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Exclusive News Why 2026 Could Be the Year D-Wave Breaks OutWritten by Nathan Reiff. Date Posted: 12/22/2025. 
At a Glance - Despite volatility in the last few months, the quantum industry may have room to grow significantly in the next year.
- D-Wave is at the top of the short list of pure-play quantum companies, thanks to its growing commercial traction, its varied technological approach, and its cash holdings, which should provide a buffer as it continues to pursue profitability.
- Sentiment may be shifting back in favor of a bullish take on QBTS, with short interest improving and growing support from major players on Wall Street.
The quantum computing industry has had a wild ride in 2025. Despite a pullback this fall, the leading quantum stocks have outperformed the broader market this year, and D-Wave Quantum Inc. (NYSE: QBTS) has remained an eye-catching favorite among analysts and investors. In the last month alone, analysts at four Wall Street firms initiated Buy or Outperform ratings for QBTS. Here's the actionable setup for investors: if you're looking at 2026 as a potential "real commercialization" year for quantum, D-Wave stands out for its combination of early traction, a long cash runway, and fresh analyst support—yet the stock still carries the valuation and execution risks typical of an industry still proving itself. Revenue Is Small, but the Direction Is Getting Harder to Ignore Buy This AI Stock Tomorrow Morning?
A former hedge fund manager known for spotting early winners is sounding the alarm once again. He called Netflix at $7.78 (up 4,200% since), Apple at $0.35 (up 20,000%), and Amazon at a split-adjust $2.41 (up 3,200%). Now he's turning his focus to a little-known AI company that just earned a near-perfect score in his new proprietary stock grading system. In a brand-new presentation, he reveals the name, ticker symbol, and why this could be the smartest AI move of the year... especially if you're over 50. Click here to watch it before word gets out. Like most quantum-focused firms, D-Wave's sales history doesn't yet match the high expectations investors have for the space. Revenue more than doubled year over year in the third quarter of 2025, reaching roughly $3.7 million. That growth rate is striking, but the dollar figure remains modest—especially relative to the stock's valuation. Still, D-Wave's sales are clearly trending upward, and analysts expect that trajectory to continue. For example, Jefferies projects a 73% compound annual revenue growth rate (CAGR) over the next several years. 2026 may be the year D-Wave begins to tap into a broader market, which could act as a catalyst for further revenue expansion. To date, the company's customers have primarily been governments and large organizations—one of its most recently announced system sales involved the Italian government—but smaller clients are showing increasing interest. In particular, D-Wave's cloud quantum service could attract businesses that want access to quantum capabilities without buying multi‑million‑dollar hardware. Annealing and Gate-Model Combination Serves Broadest Possible Client Base D-Wave's identity has long been tied to quantum annealing, an approach many investors view as more specialized than the gate-model systems pursued by other quantum peers. Recent practical wins highlight the promise of annealing, which is particularly well suited to optimization problems—finding the best solution among a vast set of possibilities—in industries such as transportation, drug development, logistics, and finance. Annealing could boost D-Wave's near-term marketability. And to reduce the risk of being sidelined by alternative approaches, the company is also exploring gate-model technology. Its substantial cash position—nearly $1 billion—gives D-Wave the financial runway to keep developing its technology while customer interest matures. Buying QBTS on Shifting Sentiment The autumn sell-off across the quantum space prompted pessimism about D-Wave and other firms, but sentiment has recently improved. Short interest in the company has eased, and QBTS rallied in the final weeks of the year. Adding to that momentum, reports say Ken Griffin, the billionaire founder of Citadel, recently accumulated shares of D-Wave. Analysts remain largely bullish: a majority on Wall Street continue to rate D-Wave as a Buy despite recent turbulence, and they see roughly another 26% of potential upside from current levels. Investors who bought earlier in the year may still find room for further gains if D-Wave can convert its revenue momentum, expand its customer base, and continue advancing its technology.
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