The earliest, early adopter of Quantum Technology, is D-Wave Inc ($QBTS)

 

As of May 2025, D-Wave Quantum Inc. (NYSE: QBTS) remains a prominent player in the quantum computing sector, specializing in quantum annealing systems tailored for optimization challenges. Below is an up-to-date overview of the company's technological advancements, clientele, deployment status, cloud services, financial health, investor landscape, and global adoption.Quantum Realized+2

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🧠 Technology & Recent Advances

• Advantage2 Processor: D-Wave has calibrated its Advantage2 processor, featuring over 4,400 qubits. This next-generation system boasts doubled coherence and a 40% increase in energy scale compared to its predecessor, enhancing its capability to solve complex problems .D-Wave Quantum | Quantum Realized

• Quantum Supremacy Claim: In a landmark achievement, D-Wave demonstrated that its annealing quantum computer could solve a materials simulation problem in 20 minutes—a task that would take a classical supercomputer nearly a million years. This breakthrough was published in the journal Science and is considered a significant milestone in quantum computing .D-Wave Quantum | Quantum Realized+11Financial Times+11Investopedia+11

• Fast Anneal Feature: The company introduced a "fast anneal" feature, allowing for quicker problem-solving capabilities. This enhancement is particularly beneficial for applications requiring rapid computations .Quantum Realized

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👥 Clients & Customers

D-Wave's customer base has expanded to 135 organizations, including 76 commercial clients. Notable customers encompass:ir.dwavesys.com

• Mastercard: Utilizing D-Wave's technology for optimization tasks .Investopedia+7D-Wave Quantum | Quantum Realized+7D-Wave Quantum | Quantum Realized+7

• Ford Otosan: Applying quantum solutions in automotive manufacturing processes .

• Pattison Food Group: Leveraging quantum computing for supply chain and logistics optimization .

Additionally, D-Wave has partnered with Davidson Technologies to deploy quantum systems aimed at enhancing national defense capabilities in the U.S. .D-Wave Quantum | Quantum Realized+4D-Wave Quantum 

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 Quantum Annealer Deployments

• On-Premises Systems: In Q4 2024, D-Wave achieved its first-ever sale of an on-premises Advantage quantum computing system to the Jülich Supercomputing Centre in Germany .NetworkNewsWire| Quantum Realized+3

• U.S. Deployments: The company has deployed Advantage systems at the USC-Lockheed Martin Quantum Computing Center and is collaborating with Davidson Technologies to establish another system at their global headquarters .D-Wave Quantum | Quantum Realized

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☁️ Leap™ Quantum Cloud Service

D-Wave's Leap™ quantum cloud service offers real-time access to its quantum computers and hybrid solvers, boasting 99.9% uptime and subsecond problem-solving capabilities. Since its inception in 2018, Leap has facilitated the resolution of hundreds of millions of problems for users worldwide Quantum Realized+8

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💰 Financial Overview

• Fiscal Year 2024 Bookings: D-Wave reported bookings exceeding $23.9 million for FY 2024, marking a 128% increase from the previous year .ir.dwavesys.com+9Yahoo Finance+9NetworkNewsWire+9

• Cash Position: As of March 2025, the company holds a cash balance exceeding $300 million, bolstered by funds raised through stock issuance programs .Barron's+4Quantum Computing Report+4Yahoo Finance+4

• Revenue: The company generated $8.8 million in revenue for FY 2024, with projections indicating over $10 million for Q1 2025, driven in part by the sale of an Advantage system .Barron's

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📊 Institutional Investors

D-Wave's institutional investors include:

• Vanguard Group Inc.: Holding approximately $59.79 million in shares .MarketBeat+1MarketBeat+1

• Penserra Capital Management LLC: Invested around $38.52 million .MarketBeat+1MarketBeat+1

• UNICOM Systems Inc.: With holdings of about $35.17 million .MarketBeat

Overall, institutional investors own approximately 42.47% of D-Wave's stock .MarketBeat

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🌐 Global Adoption

D-Wave's technology is utilized across various countries and institutions:

• Canada: Through partnerships with the Quantum Algorithms Institute, D-Wave offers free access to its Leap service for students and researchers .PR Distribution & Investor Relations+3D-Wave Quantum | Quantum Realized+3D-Wave Quantum | Quantum Realized+3

• Germany: The Jülich Supercomputing Centre has integrated D-Wave's Advantage system for research purposes .Mugglehead Investment Magazine+5NetworkNewsWire+5Barron's+5

• United States: Deployments at USC-Lockheed Martin Quantum Computing Center and collaborations with Davidson Technologies .Davidson+4D-Wave Quantum | Quantum Realized+4D-Wave Quantum | Quantum Realized+4

• Middle East: Partnership with Staque to promote quantum computing adoption in the region .The Quantum Insider

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D-Wave's focus on quantum annealing positions it uniquely in the quantum computing landscape, offering practical solutions for optimization problems across various industries. With significant technological advancements, a growing customer base, and strong financial backing, the company continues to make strides toward broader adoption and commercialization of quantum computing solutions.Financial Times

D-Wave Quantum Achieves Breakthrough in Quantum Computing

Investopedia

D-Wave Quantum Stock Soars Further After Breakthrough Claim

Financial Times

D-Wave claims to have reached 'quantum supremacy' after costly 25-year pursuit

52 days ago

Barron's

D-Wave Posts Wider-Than-Expected Loss. Why the Stock Is Rising Anyway.

Now, compare D-Wave’s quantum annealing technology to the early introduction of hybrid vehicles before the mainstream adoption of fully electric vehicles (EVs). It a strong and useful analogy. Here's how that comparison plays out:

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🧠 Quantum Annealing (D-Wave) ≈ Hybrid Vehicles

• Specialized but Practical: Quantum annealing solves a specific subset of problems—optimization and sampling—much like hybrid vehicles solved the problem of fuel efficiency without full reliance on new infrastructure (like EV charging).

• Commercially Available First: D-Wave was the first to commercialize quantum computing technology, just as Toyota’s Prius was the first mass-market hybrid.

• Bridging Technology: Annealers don’t offer universal quantum computing capabilities (like gate-model systems aim to), but they provide real-world value today, acting as a bridge to broader quantum adoption.

• Infrastructure Light: Hybrid vehicles didn’t need a charging network. Similarly, D-Wave’s cloud-based Leap service allows users to access quantum tools without needing a quantum lab.

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⚛️ Gate-Model Quantum Computers ≈ Fully Electric Vehicles

• General Purpose: Gate-model systems aim for universal quantum computing—the “holy grail” for simulating molecules, cryptography, etc., similar to how EVs aim to completely replace internal combustion engines.

• Still in R&D / Scaling Phase: Just like early EVs were expensive and niche, gate-model quantum systems (IBM, IonQ, etc.) are not yet practical for most real-world workloads.

• Requires New Ecosystems: Fully exploiting gate-model quantum computing requires error correction, new programming models, and often more complex cryogenic systems—like EVs needing charging stations and grid integration.

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Ed Note:  

We are long $QBTS - NYSE

⚖️ Conclusion

D-Wave’s annealing technology is:

• Mature, commercially deployed, and solving real-world optimization problems today.

• Less versatile than gate-model systems, but more accessible and scalable in the short term.

• Positioned as a first-mover that validates and expands the quantum ecosystem, much like how hybrid cars did for electric mobility for over 10 years.

So, What's new at IONQ?

 IonQ, a leading quantum computing company, has recently achieved several significant milestones:​arxiv.org+18Wikipedia+18Barron's+18

• Strategic Partnerships and Acquisitions: In February 2025, IonQ announced the acquisition of a majority stake in ID Quantique, a Swiss firm specializing in quantum-safe encryption. Concurrently, they entered a strategic partnership with SK Telecom, South Korea's largest wireless telecom operator. These moves aim to bolster IonQ's position in quantum networking and security. ​Barron's

• Financial Performance: IonQ reported fourth-quarter 2024 revenue of $11.7 million, contributing to a full-year revenue of $43.1 million—a 95% increase compared to the previous year. Despite this growth, the company recorded a net loss of $220 million for the quarter, with cash reserves decreasing to $363.8 million. ​IonQ+4Barron's+4Kiplinger.com+4

• Leadership Changes: Niccolo de Masi was appointed as the new CEO and president, succeeding Peter Chapman, who transitioned to the role of executive chairman. De Masi, a physicist by training, previously led the special purpose acquisition company that facilitated IonQ's public listing in 2021. ​Barron's+1Wikipedia+1

• Technological Advancements: IonQ continues to make strides in quantum computing technology. In September 2024, the company achieved a two-qubit gate fidelity of 99.9% using barium-based qubits. They aim to reach 99.999% fidelity by the end of 2025, enhancing the performance and reliability of their quantum systems. ​Reddit+1Kiplinger.com+1

• Stock Market Activity: Following a period of stock price decline, IonQ director Bill Scannell purchased approximately $2 million worth of shares on March 12, 2025, indicating insider confidence in the company's future prospects. ​Barron's

These developments underscore IonQ's commitment to advancing quantum computing technology and expanding its market presence.​

Recent News on IonQ's Financial Performance and Market Activity

Barron's

IonQ -A Director Just Made a Big Buy of Shares.

8 days ago

Investor's Business Daily

IonQ Chair: Don't Short Nvidia Because Of Quantum Computing

8 days ago

In November 2024, IonQ demonstrated an end-to-end application workflow that combined the capabilities of its IonQ Forte quantum system with NVIDIA's CUDA-Q platform. This integration focused on molecular electronic structure calculations, showcasing potential applications in fields like drug discovery and chemistry. By leveraging NVIDIA's A100 Tensor Core GPUs alongside IonQ's quantum processors, the workflow exemplified how quantum processing units (QPUs) can collaborate with classical accelerated computing resources to solve complex problems more efficiently. ​Yahoo Finance+2IoT World Today+2SDXCentral+2Quantum Computing Report+1IoT World Today+1

NVIDIA's CUDA-Q is an open-source platform designed to streamline hybrid quantum-classical computing by enabling seamless integration and programming of QPUs, GPUs, and CPUs within a single system. This collaboration underscores IonQ's commitment to advancing practical quantum applications by combining quantum hardware with AI supercomputing resources. ​Reddit+5NVIDIA Developer+5IoT World Today+5IoT World Today

Furthermore, at NVIDIA's annual developer conference in March 2025, IonQ's Executive Chair joined a panel discussion with NVIDIA's CEO to explore the integration of quantum computing with classical systems, highlighting the ongoing partnership and shared vision for the future of computing. ​IonQ

IONQ is a first mover in Quantum advancement and commercialization

​IonQ is a prominent player in the global quantum computing landscape, recognized for its innovative approach and contributions to the field. The company specializes in trapped-ion quantum computing, utilizing individual atoms as qubits, which offers advantages such as long coherence times and high-fidelity operations. This positions IonQ alongside major tech companies like IBM, Google, Microsoft, and Amazon in the pursuit of advancing quantum technologies. ​Technology Magazine+1SpinQ+1BlueQubit

In terms of commercialization, IonQ has demonstrated significant progress.

The company reported a 95% increase in annual revenue for 2024, reaching $43.1 million. This growth reflects IonQ's expanding influence and the growing interest in quantum computing solutions. ​

IonQ's technological advancements are also noteworthy. 

The company achieved a two-qubit gate fidelity exceeding 99.9% on its barium-based quantum systems, a critical milestone for developing practical, enterprise-grade quantum computers. ​PR Distribution & Investor Relations

Furthermore, IonQ's strategic partnerships and collaborations have enhanced its position in the quantum computing ecosystem. The company has integrated its quantum hardware with platforms like NVIDIA's CUDA-Q, facilitating hybrid quantum-classical computing workflows. Additionally, IonQ's presence in College Park, Maryland, contributes to the area's emergence as a significant hub for quantum research and development. ​Business Insider

Overall, IonQ's combination of technical innovation, commercial growth, and strategic alliances underscores its influential role in the global advancement and commercialization of quantum computing.

Update Apr 2 2025

Shares of IonQ climbed after the company said its flagship quantum computer is officially available to customers globally through a partnership with Amazon Web Services.

The stock rose 5% to $23.11 on Tuesday. Shares have gained 132% over the past 12 months.

IonQ said its Forte Enterprise computer is now accessible via Amazon Braket, a managed quantum computing service from AWS. The service has a high bar for commercial availability, and also hosts IonQ's Aria and Forte quantum computers, the company said.

Forte Enterprise is also available on the IonQ Quantum Cloud, the company said.

The computer offers #AQ36 performance for enterprise customers to develop applications in life sciences, financial services, manufacturing, pharmaceuticals and other industries, the company said. (Dow Jones)

Quantum Computing Leadership: Here is a "Deep Dive" look at IONQ 10 years after it was founded in 2015

Did we just witness the first actual building blocks of a future Quantum Internet as IONQ acquires ID Quantique?

In Quantum Computing as in other new technologies, early partnerships usually benefit first movers, and Dwave Quantum just signed another partner!

 

While D-Wave Quantum recently expanded its partnership with Zapata AI to integrate quantum computing and generative AI solutions, aiming to accelerate the development of these technologies, additionally, D-Wave is deploying its second US-based Advantage™ quantum computer at Davidson Technologies' new global headquarters in Huntsville, Alabama. 

This system will support sensitive applications in national security and provide broader access to quantum computing for government agencies and other customers via the Leap™ quantum cloud service​ (D-Wave Systems)​.

1. Partnerships and Deployments: Recent partnerships and deployments, such as the Advantage quantum computer at Davidson Technologies, demonstrate growth and application in critical sectors like national security.
2. Market Position: D-Wave is a pioneer in quantum computing, offering both annealing and gate-model quantum computers.

Cons:

1. Financial Health: Quantum computing is a nascent industry, and companies often face significant R&D costs and operational challenges.
2. Market Volatility: Stocks in emerging tech sectors can be highly volatile.

How D-Wave Benefits:

1. Enhanced Market Presence: The deployment of a second U.S.-based Advantage system strengthens D-Wave's market presence in the United States, especially within the defense sector.

2. Revenue and Customer Base Growth: By offering quantum computing capabilities to Davidson Technologies' government and commercial customers, D-Wave can expand its customer base and revenue streams.

3. National Security Applications: The collaboration emphasizes D-Wave's commitment to national security, potentially opening doors for further governmental contracts and applications.

4. Technology Validation: Being chosen to provide technology for sensitive applications helps validate the robustness and reliability of D-Wave’s quantum systems, boosting its reputation.

5. Innovation and Development: The partnership promotes innovation and development in quantum computing applications, which can lead to new technological advancements and solutions.

The partnership between D-Wave and Davidson Technologies involves deploying a second U.S.-based Advantage™ quantum computer at Davidson's new headquarters in Huntsville, Alabama. This system will be accessible to D-Wave customers via the Leap™ quantum cloud service initially and later may be dedicated to sensitive applications. 

This collaboration aims to advance quantum computing adoption, particularly in national security, providing Davidson's government customers with direct access to quantum technology, enhancing their ability to address critical defense challenges​ (D-Wave Systems)​.

Summary

The partnership with Davidson Technologies enables D-Wave to expand its quantum computing applications in national security, grow its customer base, and strengthen its market presence in the U.S. This collaboration underscores the company's role in addressing critical defense challenges through advanced technology solutions.

In contrast, the partnership with Zapata AI centers around integrating D-Wave's quantum computing technology with Zapata's quantum software platform, Orquestra®, to enhance generative AI and quantum machine learning solutions. This collaboration is more about software and algorithm development, targeting broader commercial applications rather than specific government or defense uses.

Reasons why IONQ is leading the quantum computing race, the burgeoning QCAAS market and the Quantum Ai race!

Summary of Key Differences:

• Davidson Technologies Partnership:

  • Focus: Deployment of hardware (Advantage™ quantum computer)
  • Sector: National security and defense
  • Objective: Provide secure, sensitive computing capabilities

• Zapata AI Partnership:

  • Focus: Integration of quantum computing with AI software (Orquestra® platform)
  • Sector: Commercial applications
  • Objective: Enhance generative AI and quantum machine learning solutions