Though shares of quantum computing innovator D-Wave Quantum Inc. (NYSE: QBTS) are up an impressive 60% year-to-date (YTD), in the past month they've slumped by more than 10%. A post-earnings bump dissolved into a price plateau for QBTS shares. Now, as investors watch for signs of news that could stimulate a continuation of D-Wave's rally, the company faces increased threats from its rivals.
Niche quantum competitors like IonQ Inc. (NYSE: IONQ) and Rigetti Computing (NASDAQ: RGTI) continue to pursue their own technologies and revenue streams, which is already a substantial risk for D-Wave investors. With news in early September that chip giant NVIDIA Corp. (NASDAQ: NVDA) is investing the better part of a billion dollars in Quantinuum—a joint venture of automation, aerospace, and energy conglomerate Honeywell International (NASDAQ: HON)—a well-resourced new competitor has emerged as well. What should D-Wave investors expect as the quantum industry grows more crowded?
