Should You Buy D-Wave Quantum Stock While It's Under $35?
Written by Johnny Rice for The Motley Fool -> D-Wave shares have surged alongside the broader market, boosted by Nvidia's new Ising AI models and a $100 million federal funding award. Despite the stock rally, D-Wave's financials remain concerning, with just $24.6 million in rev
D-Wave shares have surged alongside the broader market, boosted by Nvidia's new Ising AI models and a $100 million federal funding award.
Despite the stock rally, D-Wave's financials remain concerning, with just $24.6 million in revenue last year against an operating loss exceeding $70 million.
Commercial quantum computing likely years away, the stock carries significant speculative risk, and it may face steep declines in a market correction.
Quantum stocks are back, it seems, and D-Wave Quantum (NYSE: QBTS) is no exception. Shares of the quantum "pure play" are up 109% in the last two months.
A broader market rally has helped -- the S&P 500 is up 15.6% in the last month, the Nasdaq Composite is up 23.8% -- but some key catalysts have renewed investor faith in the sector.
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First, Nvidia announced Ising, a new family of open-source AI models designed to accelerate quantum computing research. And the U.S. Department of Commerce announced a new $2 billion quantum investment program. D-Wave will receive $100 million in federal funding.
The catalysts are encouraging, certainly, but they don't fundamentally change the picture in my eyes.
