Despite having shed a third of its share price so far this year, quantum computing giant D-Wave Quantum Inc. (NYSE: QBTS) seems intent on building its reputation as the leading firm in a hotly contested space. One of the main catalysts behind this assertion is D-Wave's recent acquisition of Quantum Circuits, a move that quickly and dramatically expanded its reach, making it the largest quantum firm with a dual focus on both quantum annealing and gate-model technology.
Still, D-Wave's competition is fierce, with several lesser-known firms threatening to gain a dominant position. One of these competitors is IonQ Inc. (NYSE: IONQ), which is nearly twice D-Wave's market capitalization. While IonQ has also declined this year, it has fallen at close to half the rate that D-Wave has, only losing 18% of its share value year-to-date (YTD).
