D-Wave Quantum Stock Extends Rally As Momentum Builds Following Launch Of New Quantum System

Shares of quantum computing company D-Wave Quantum Inc QBTS are moving higher Wednesday on what appears to be continued momentum after the company announced the general availability of its latest quantum system.

What Happened: D-Wave shares closed Tuesday up 25.9% at $16.56 after the company unveiled its sixth-generation commercial-grade Advantage2 quantum computing system, now available through its Leap real-time quantum cloud service. The system is designed for real-world applications in optimization, materials simulation and artificial intelligence.

"Today marks a significant milestone not just for D-Wave, but for the quantum computing industry as a whole, as we bring to market our sixth-generation quantum computer," said Alan Baratz, CEO of D-Wave. 

"It's an engineering marvel, with substantial technical advancements that highlight D-Wave's progress in scaling quantum technology to meet industry demands for growing computational processing power while maintaining energy efficiency."

The system is now accessible in over 40 countries and available for on-premises deployment by hyperscalers. The quantum processor offers increased qubit connectivity, higher energy scale and greater coherence versus the prior generation. It also enables coherent quantum annealing at scale and hybrid solver integration.

D-Wave noted that the system can solve complex problems that exceed the capabilities of some of the world's most powerful classical supercomputers.

D-Wave stock was trending on various social platforms at the time of publication, seeing increased attention from retail traders in particular. D-Wave has high short interest of approximately 20%, which may be contributing to the surge this week. The stock also has a strong momentum score of 99.81, according to Benzinga Pro.

QBTS Price Action: D-Wave shares are up more than 1,200% over a one-year period. The stock was up 7.72% at $17.82 Wednesday morning after rising nearly 26% on Tuesday, according to Benzinga Pro data.

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Photo: courtesy of D-Wave Quantum.