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QBTS
D-Wave Quantumloading…
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Originally quantum annealing — commercial today for optimization. Recently pivoted to gate-model dual-rail superconducting via the Quantum Circuits Inc. acquisition.
What they do
The first publicly traded quantum company. Originally focused on quantum annealing (a different model good for optimization problems, not gate-based universal computing), now pivoting to gate-based superconducting via the $550M Quantum Circuits Inc acquisition. Q1 2026 revenue $2.86M; bookings $33.4M (+2,000%); $588M cash. Roadmap: 17-qubit dual-rail demonstration 2026, 1,000 physical / 10 logical qubits 2030, 100 logical 2032.