The Bull Case For D-Wave Quantum (QBTS) Could Change Following AT&T’s Quantum Network Speedup News Event

• In late July 2026, AT&T Inc. announced it had expanded its use of D-Wave Quantum Inc.’s annealing quantum computing to tackle complex network optimization tasks, reporting that one workload’s processing time fell from about one hour to under 15 seconds and planning to trial further applications including outage detection, routing, and quantum security.
• This deeper integration into AT&T’s agentic AI tools highlights a real-world enterprise deployment for D-Wave’s technology, underscoring how quantum optimization is starting to support large-scale 5G and fiber network operations rather than remaining a purely experimental tool.
• We’ll now examine how AT&T’s reported one-hour-to-seconds speedup using D-Wave’s annealing systems could reshape the company’s investment narrative.

Invest in the nuclear renaissance through our list of 90 elite nuclear energy infrastructure plays powering the global AI revolution.

D-Wave Quantum Investment Narrative Recap

To own D-Wave Quantum, you need to believe that quantum annealing and a future gate-model platform can convert early proofs of concept into scaled, recurring QCaaS and system deals, despite persistent losses and reliance on a few large contracts. The expanded AT&T deployment directly supports that thesis by showing production use in a complex 5G and fiber network, but it does not yet resolve the key near term risk that operating expenses remain high while the revenue base is still relatively narrow.

Against this backdrop, D-Wave’s June 2026 gate-model roadmap announcement, outlining a path toward fault tolerant systems with 100 logical qubits by 2032, frames the AT&T news in a broader context. AT&T’s evaluation of D-Wave’s future gate-model systems for quantum security and communications ties this customer win to that roadmap, reinforcing how enterprise interest could matter for both annealing adoption today and the dual platform story that many investors view as a potential long term catalyst.

Yet despite the AT&T progress, investors should also weigh how continued adjusted net losses and rising operating costs could limit D-Wave’s flexibility if...

Read the full narrative on D-Wave Quantum (it's free!)

D-Wave Quantum's narrative projects $173.5 million revenue and $21.0 million earnings by 2029. This requires 140.7% yearly revenue growth and about a $389 million earnings increase from -$368.0 million today.

Uncover how D-Wave Quantum's forecasts yield a $36.84 fair value, a 109% upside to its current price.

Exploring Other Perspectives

The most bullish analysts were already assuming revenue could reach about US$210.1 million by 2029, so compared with the baseline concerns about losses and lumpy deals, this AT&T milestone might push that optimistic view even further while reminding you that expectations for D-Wave’s dual platform roadmap can vary widely among investors.

Explore 24 other fair value estimates on D-Wave Quantum - why the stock might be worth less than half the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your D-Wave Quantum research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision.
• Our free D-Wave Quantum research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate D-Wave Quantum's overall financial health at a glance.

No Opportunity In D-Wave Quantum?

Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters:

• AI is about to change healthcare. These 40 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.
• Outshine the giants: these 16 early-stage AI stocks could fund your retirement.
• This technology could replace computers: discover 26 stocks that are working to make quantum computing a reality.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com