New York, January 24, 2026, 12:35 EST — The market has closed.
- D-Wave, Rigetti, IonQ and Quantum Computing Inc dropped between 4% and 7% on Friday.
- D-Wave’s filings kept dilution concerns alive, while Rigetti’s India order remained a hotspot following an analyst upgrade
- Traders are now focused on the Fed meeting scheduled for Jan. 27-28, along with new corporate earnings reports
Quantum computing stocks listed in the U.S. closed the week on a down note Friday. D-Wave Quantum took the biggest hit, sliding 6.5% to $25.63. Rigetti Computing wasn’t far behind, down 5.9% at $23.45. IonQ slipped 4.3% to $47.25, while Quantum Computing Inc dropped 4.4%, ending at $11.46.
This matters now because the group behaves like a tight-knit bunch of high-risk growth plays. Their small revenue and hefty spending mean even slight shifts in funding outlook can send prices sharply moving.
Next week will put risk appetite to the test. The Federal Reserve meets Jan. 27-28, with a rate decision set for Wednesday afternoon, followed by Chair Jerome Powell’s press conference — both closely watched for their impact on speculative tech stocks. 1
On the corporate front, D-Wave has been busy with filings. It submitted documents related to a shelf registration and revealed a prospectus supplement outlining the possible resale of 10,430,444 common shares by some selling stockholders, according to an SEC filing. 2
A shelf registration doesn’t require an immediate sale. Still, the possibility of additional shares hitting the market looms, often limiting rallies as traders look to lock in profits.
Rigetti got a boost earlier this week when B. Riley upgraded the stock from “Neutral” to “Buy,” maintaining a $35 price target. The move came after the company announced an $8.4 million order from India’s C-DAC. According to Investing.com, B. Riley said the deal “enhanced full-year estimate attainment visibility.” 3
D-Wave announced on Jan. 20 that it has finalized its acquisition of Quantum Circuits Inc. The company plans to reveal its dual-platform roadmap at the Qubits 2026 event, set for Jan. 27-28 in Boca Raton, Florida. CEO Alan Baratz described the deal as “a watershed moment” in a company statement. 4
IonQ CEO Niccolo De Masi threw out a stark warning in Davos: “Q-Day”—the moment quantum computers can crack common encryption—might come within three years. That puts a spotlight on post-quantum security budgets, despite ongoing debate over the exact timing. 5
The broader outlook also softened. The Defiance Quantum ETF dropped 0.6% on Friday, less steep than the declines seen in most pure-play stocks.
That said, the risk cuts both ways. Tech firms burning cash are usually the first to feel the pinch when financial conditions tighten or equity volatility resurfaces, and quantum stocks often swing too far, up or down.
When U.S. markets reopen Monday, investors will be on the lookout for prospectus supplements linked to D-Wave’s registration. They’ll also watch for fresh contract disclosures across the group. The next major trigger is the Fed’s policy statement on Jan. 28 at 2:00 p.m. ET, a key event that often shifts the mood for high-beta stocks. 6
