D-Wave Quantum Plunges 35.7% in October as $2 Billion IonQ Raise Sparks Sector Selloff
Updated
Updated · Yahoo Finance · Nov 4
D-Wave Quantum Plunges 35.7% in October as $2 Billion IonQ Raise Sparks Sector Selloff
1 articles · Updated · Yahoo Finance · Nov 4
Summary
D-Wave shares sank 35.7% in October, underperforming the S&P 500’s 0.9% dip as quantum stocks sold off almost in lockstep.
IonQ helped trigger the retreat by agreeing to buy Elisity for $1.3 billion in stock and then launching a $2 billion equity offering, reviving fears that cash-burning quantum firms may need dilutive fundraising.
D-Wave’s own updates were largely positive—including a SkyWater manufacturing extension, Italy’s first annealing quantum computer shipment and an LG CNS partnership—but they failed to offset the sectorwide pressure.
Valuation concerns added to the slide: D-Wave generated $12.4 million in trailing four-quarter revenue, down 44.2% year over year, yet still carried a roughly $3.9 billion market value, or about 316 times sales.
The company’s roughly $500 million net cash means no immediate 2027 funding crunch, but 21.6% short interest and broader doubts about when quantum computing will produce meaningful revenue keep the stock vulnerable.