D-Wave Quantum Shares Stage Recovery Following Sector-Wide Selloff

D-Wave Quantum US26740W1099

D-Wave Quantum Inc. has navigated a period of significant volatility, with its shares demonstrating a notable rebound after a sharp, industry-driven decline. The recovery has been fueled by a combination of analyst confidence and the announcement of substantial new commercial contracts.

The recent turbulence originated on February 6, 2026, when Wolfpack Research published a highly critical short-seller report targeting D-Wave's competitor, IonQ. This triggered a selloff that swept across the quantum computing sector, pulling down share prices for multiple companies. D-Wave's equity briefly fell to $17.21 amid the downturn.

However, the decline proved short-lived. A swift recovery saw the stock climb back above the $20 level shortly after, suggesting investors are distinguishing between the specific allegations against IonQ and D-Wave's own operational trajectory. This sentiment was bolstered on February 7, when Needham analyst Quinn Bolton reaffirmed his "Buy" rating on D-Wave. He maintained a price target of $48 per share, indicating substantial upside potential and expressing confidence in the company's strategic direction, particularly following recent acquisitions.

Strategic Moves and Major Contract Wins

The firm's operational progress provides a concrete foundation for the share price recovery. D-Wave has finalized its acquisition of Quantum Circuits Inc., a strategic move aimed at integrating error-correcting gate-model technology with its established quantum annealing systems.

Concurrently, the company has secured several major orders that underscore growing commercial adoption:

• A Fortune 100 enterprise has entered into a two-year, $10 million agreement for "Quantum Computing as a Service" (QCaaS).
• Florida Atlantic University in Boca Raton has placed a $20 million order for the delivery of an Advantage2 quantum system.
• Within the defense sector, collaborations are underway with Anduril and Davidson Technology to develop applications for U.S. air and missile defense systems.

Financial Performance and Forward Outlook

Despite the rebound, D-Wave's stock remains characteristically volatile for a pre-commercial deep-tech company. Year-to-date through early February, the shares were still down between 20% and 30%. This pattern of volatility is typical for the sector.

What sets D-Wave apart from some peers, however, is its steady stream of commercial contract revenue—a factor that addresses common criticism about a lack of near-term monetization in the quantum computing industry. Market participants are now looking ahead to the fiscal 2025 quarterly report, expected in April. Key areas of focus will include the integration costs associated with the Quantum Circuits acquisition and the early execution progress on the newly signed QCaaS contracts. The central question for investors is whether the company's operational advancements can begin to close the current valuation gap.

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