NEW YORK, June 23, 2026, 12:04 (EDT)
- D-Wave shares gained around 3% in late-morning trading after opening lower. The move put D-Wave ahead of other tech stocks.
- Trump signed two executive orders on Monday related to quantum, one targeting a major research quantum computer and another focused on post-quantum cybersecurity.
- D-Wave’s latest quarter saw revenue drop hard, keeping the trade risky. The company still expects to post losses.
D-Wave Quantum shares climbed in New York on Tuesday. Traders pointed to a new order from U.S. President Donald Trump for a quicker federal move on quantum tech, which sent investors back to the stock. The name has been one of the sector’s most volatile pure plays.
The stock gained 3.1% to trade at $25.23 in midday action, after hitting a session high of $26.66. Volume was strong, with about 27 million shares moving. Invesco QQQ Trust, a large-cap tech proxy, dropped roughly 3.0%.
Washington has now set a timeline for quantum tech that investors used to see as far off. On Monday, Trump signed orders to push quantum computing and get federal systems ready for post-quantum cryptography—encryption that could handle attacks from new quantum computers.
Quantum computers handle certain problems using quantum physics, unlike regular computers. The White House said the push involves building a quantum computer aimed at scientific breakthroughs, along with steps for quantum sensors and networks in the next five years.
The White House wants a research quantum computer up and running by 2028, Michael Kratsios, director of the White House Office of Science and Technology Policy, told reporters on a call previewing the announcement. Matthew Kinsella, CEO at quantum company Infleqtion, told Reuters, “It’s possible to meet these types of timelines.” Reuters
D-Wave isn’t the only quantum name showing moves. IonQ dropped 0.5%, Rigetti Computing was down 0.6%, while Quantum Computing Inc was up 0.3%. Quantum stocks traded unevenly Tuesday, but the policy news kept attention on the sector.
D-Wave is focusing on its product road map in the near term. The company said last week that it will launch a gate-model quantum computing simulator for “error-aware programming,” targeting access to start in September. Dr. Trevor Lanting, chief development officer at D-Wave, called the simulator “an important step” for its gate-model efforts with customers. D-Wave Quantum
Investors have been looking to see if D-Wave can convert bookings to revenue. Bookings for the first quarter came in at $33.4 million, boosted by a $20 million system sale to Florida Atlantic University and a $10 million quantum computing-as-a-service order from a Fortune 100 firm. Bookings here refer to customer orders set to be recognized as revenue later.
The worry is policy won’t shift D-Wave’s numbers fast. D-Wave posted Q1 revenue of $2.9 million, down 81% from last year. Its SEC filing showed an operating loss of $54.7 million. The company said it will likely keep reporting sizable losses as it invests in research, development and sales.
That puts the stock at risk if D-Wave misses project goals, if government contracts take longer, or if investors back off from high-risk tech names. The rally in D-Wave shares is trading on a long-term story. The company still has to show that government deals, test runs with customers, and its larger quantum plan can turn into steady sales, instead of just fueling another quick jump in a busy sector.
