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    Can D-Wave Quantum’s (QBTS) CES 2026 Push Redefine Its Edge In Commercial Quantum Computing?

    Simply Wall St·12/23/2025 10:21:20
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    • D-Wave Quantum recently announced plans to showcase its Advantage2 annealing quantum system and real-world customer use cases at CES 2026, highlighting growing commercial traction, expanding government initiatives, and fresh institutional interest.
    • This combination of product availability, expanding use cases across industries, and bullish analyst coverage is reshaping how investors view the company’s commercialization timeline and competitive positioning in quantum computing.
    • With D-Wave’s CES 2026 showcase and Advantage2 rollout as a backdrop, we’ll examine how these developments shape its investment narrative.

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    What Is D-Wave Quantum's Investment Narrative?

    To own D-Wave today, you really have to believe that its quantum annealing approach can convert early proofs of concept into durable, high-margin revenue long before the cash burn becomes a constraint. The CES 2026 showcase of Advantage2 and live customer deployments plays straight into that thesis by putting “real-world” use cases in front of a broad tech and enterprise audience, at a time when revenue is still only around US$24.1 million and losses exceed US$398 million. The surge in bullish analyst coverage, Citadel’s enlarged stake, and a rapid share price run-up suggest this event has become a short-term catalyst in its own right, potentially pulling forward expectations around commercialization. At the same time, heavy insider selling, ongoing share dilution and the stock’s rich multiples keep execution risk and valuation risk firmly front and center for new shareholders.

    However, one key risk stands out that many new investors may not fully appreciate yet. D-Wave Quantum's shares are on the way up, but could they be overextended? Uncover how much higher they are than fair value.

    Exploring Other Perspectives

    QBTS 1-Year Stock Price Chart
    QBTS 1-Year Stock Price Chart

    Ninety-one fair value estimates from the Simply Wall St Community span roughly US$0.24 to US$38.75 per share, underlining just how far apart retail views are on D-Wave. Set against a business that is still loss making, reliant on fresh capital and heavily tied to execution around Advantage2 and government deals, that spread shows why it helps to weigh several perspectives before forming a view on the company’s longer term prospects.

    Explore 91 other fair value estimates on D-Wave Quantum - why the stock might be worth as much as 20% more than the current price!

    Build Your Own D-Wave Quantum Narrative

    Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.