D-Wave Quantum Inc. (QBTS) is gaining investor attention as it is the only company developing both annealing and gate model quantum computers, targeting the full market potential of quantum technology. The company launched its Advantage2 quantum computer in May 2023, designed to tackle complex computational problems, particularly in optimization, material simulation, and AI. Advantage2 is operational at Davidson Technologies in Huntsville, AL, focusing on national defense applications.
In the latest updates, D-Wave has completed fabrication of fluxonium qubit chips and superconducting control chips, advancing toward demonstrating scalable control of gate model qubits. The 2025 earnings call revealed that the Advantage3 prototype chips are nearing completion, with circuit testing anticipated shortly, focusing on achieving 100,000 qubits through enhanced configurations.
In the past year, QBTS shares have surged by 172.2%, significantly outperforming other sectors, including the Internet Software industry at 6.8% and the S&P 500 at 19%. The company’s shares are currently trading at a forward price-to-book ratio of 13.49, above its industry average of 6.01.
