NEW YORK — Wednesday, Dec. 17, 2025 (6:00 p.m. ET): Quantum-related stocks ended sharply lower after the U.S. market close, extending a choppy pullback that has rattled high-beta “future tech” themes in recent weeks. The selling came even as Wall Street broadened fresh analyst coverage of the sector and two of the most closely watched names released notable corporate updates tied to commercialization and scaling. [1]
Below is what moved U.S.-listed quantum stocks today, what analysts are forecasting for 2026 and beyond, and the key catalysts investors are watching next.
Quantum stock prices at 6:00 p.m. ET
Quantum pure-plays and adjacent names largely fell in tandem, underperforming broader thematic exposure:
- IonQ (IONQ): $45.85, -7.69%
- Rigetti Computing (RGTI): $22.47, -6.14%
- D‑Wave Quantum (QBTS): $23.80, -6.84%
- Quantum Computing Inc. (QUBT): $10.22, -9.32%
- Arqit Quantum (ARQQ): $22.46, -9.22%
- Defiance Quantum ETF (QTUM): $107.15, -2.61%
Note: These quotes reflect pricing around the early evening window after the close and can move in after-hours trading.
Why quantum computing stocks fell today
1) A broader “risk-off” tape hit high-volatility tech
Major U.S. indexes finished sharply lower, led by declines in large-cap tech—exactly the environment that tends to pressure speculative, early-stage themes like quantum computing. [2]
2) “AI bubble” worries spilled into quantum
Quantum stocks have increasingly traded as a high-octane extension of the AI trade—moving sharply higher when investors want growth optionality and retreating quickly when valuation concerns resurface. Investopedia noted the group’s losses Wednesday as the pullback continued amid “worries about an AI bubble.” [3]
3) Profit-taking after big 2025 runs
Even after recent weakness, the sector still carries the psychological baggage of large year-to-date moves. Investopedia pointed out that D‑Wave shares have nearly tripled in 2025, while Rigetti is up close to 50% and IonQ is up about 10% year-to-date (with Quantum Computing Inc. down for the year). [4]
The biggest “new” story today: Wedbush initiates coverage on U.S. quantum pure-plays
A central driver of quantum headlines on Dec. 17 was Wedbush launching formal coverage of the quantum computing sector, with Outperform ratings on IonQ, Rigetti, and D‑Wave, and a Neutral rating on Quantum Computing Inc. [5]
Wedbush’s core framing was straightforward: quantum is still early, but the commercialization curve is starting to form.
- The firm called quantum a “transformational technology” and a “generational investment theme,” while acknowledging near-term pressure can persist. [6]
- Wedbush estimated quantum systems could rise from a tiny base to represent just under 2% of total compute expenditures by 2030 (across the companies it initiated). [7]
- Wedbush also emphasized a hybrid future—quantum as part of a stack alongside classical compute—while describing error correction as the critical gating factor for scaling. [8]
Wedbush price targets (as cited widely in today’s coverage)
Multiple reports tied Wedbush’s initiations to targets implying notable upside over a 12‑month horizon:
- IonQ: $60
- Rigetti: $35
- D‑Wave: $35
- Quantum Computing Inc.: $12 [9]
Wedbush’s single-stock notes also repeated the Outperform + $60 target stance on IonQ, and Outperform + $35 on Rigetti. [10]
Jefferies’ stance in the background: Buy IonQ and D‑Wave, Hold Rigetti
Another narrative shaping investor expectations into 2026 is the expanding set of bank research opinions on the space.
Investing.com summarized Jefferies’ sector initiation as:
- D‑Wave: Buy, $45
- IonQ: Buy, $100
- Rigetti: Hold, $30 [11]
Even when those calls are not the day’s “freshest” headline, they are clearly influencing how traders frame dips and rebounds—particularly as the market tries to decide whether quantum’s 2025 surge is a durable rerating or a volatility cycle.
Company news on Dec. 17 that mattered
IonQ expands its QuantumBasel partnership to “over $60 million” through 2029
IonQ delivered one of the most concrete commercialization headlines of the day: an expanded agreement with QuantumBasel, described as IonQ’s official Innovation Center in Europe.
Key disclosed points include:
- The new agreement brings the total partnership value to over $60 million and extends IonQ’s on-site presence in Switzerland through 2029. [12]
- The contract grants QuantumBasel ownership of its existing IonQ Forte Enterprise system and secures ownership of a next-generation IonQ Tempo system. [13]
Investing.com’s coverage added that the collaboration is expected to broaden workstreams—including efforts tied to optimizing large language models and building hybrid quantum‑classical techniques—a reminder that “AI + quantum” narratives are increasingly intertwined in investor storytelling. [14]
Quantum Computing Inc. confirms Dr. Yuping Huang as CEO, effective Jan. 1, 2026
Quantum Computing Inc. (QUBT) issued a leadership update confirming Dr. Yuping Huang as CEO, effective January 1, 2026, after serving as interim CEO since April 2025. [15]
The release positioned the leadership move as part of a push from prototype development and small-batch manufacturing toward industrial-scale production—language that matters in a sector where the market punishes “science project” optics. [16]
QUBT’s photonics push: Optica highlights a $110 million Luminar Semiconductor deal amid bankruptcy context
A separate—and unusually specific—industry report from Optics & Photonics News (Optica) said Quantum Computing Inc. signed an agreement to acquire Luminar Semiconductor, Inc. in an all-cash $110 million transaction, noting it comes after Luminar’s Chapter 11 filing. [17]
Optica reported QCi expects the acquisition to add photonics technologies, patents, and engineering talent, and quoted Huang describing it as a step toward “practical, integrated quantum solutions.” [18]
Stock-by-stock: what investors are focusing on tonight
IonQ (IONQ): Commercial traction headlines vs. premium valuation debate
Bull case tonight: IonQ paired the sector’s hot “coverage expansion” narrative with a tangible European commercialization update through QuantumBasel. [19]
Bear case tonight: Valuation is still a flashpoint. A Simply Wall St analysis dated Dec. 17 highlighted IonQ’s premium price-to-book framing and noted the tension between long-term momentum and near-term sentiment. [20]
Rigetti (RGTI): Analysts like the setup, but volatility remains the feature
Wedbush initiated Outperform with a $35 target, pointing to Rigetti’s long R&D history in superconducting qubits. [21]
Meanwhile, a Dec. 17 Motley Fool piece emphasized that Rigetti is down more than 50% from its high, remains speculative, and faces uncertainty around when quantum becomes commonplace—making drawdowns and volume shifts part of the story. [22]
D‑Wave (QBTS): Strong analyst interest, plus insider-selling headlines
On Wednesday, MarketBeat attributed part of D‑Wave’s drop to insider selling disclosures and listed recent sales by the CFO and a director in its summary. [23]
At the same time, the stock continues to attract prominent coverage and targets across Wall Street (Wedbush Outperform, and Jefferies Buy in the Investing.com summary). [24]
Quantum Computing Inc. (QUBT): Management clarity and photonics M&A—amid heavy tape pressure
Today’s QUBT narrative is a blend of:
- Leadership confirmation (CEO effective Jan. 1, 2026) [25]
- A photonics acquisition storyline tied to Luminar Semiconductor and bankruptcy-driven asset reshuffling [26]
- And Wedbush’s more cautious posture (Neutral) versus peers [27]
Arqit Quantum (ARQQ): Often traded as “quantum security,” not pure quantum compute
Arqit remains a quantum-adjacent name many traders bucket into quantum headlines, though its positioning is typically framed through quantum-safe security rather than general-purpose quantum computing. (It also sold off hard today, consistent with the broader high-beta theme move.)
A key macro signal for the sector: Big Tech keeps bundling quantum into “next-gen” stacks
One reason quantum continues to hold investor mindshare—despite volatility—is that large incumbents keep folding quantum initiatives into broader AI and custom silicon roadmaps.
Reuters reported Wednesday that Amazon is reshaping its AI organization, with a new unit spanning AI models, custom chips, and emerging quantum computing initiatives—an example of how hyperscalers view quantum as part of a longer-term platform strategy, not a standalone science experiment. [28]
What to watch next for quantum stocks heading into 2026
If you’re tracking quantum stocks on the U.S. market, the next catalysts investors typically monitor fall into five buckets:
- Commercial bookings and repeatable revenue
Analyst enthusiasm (and price targets) ultimately need proof points that enterprise experimentation is turning into durable spending. [29] - Hardware milestones and scaling progress
Wedbush highlighted error correction as central to scaling and a prerequisite for broader quantum advantage. [30] - Government funding and national-security tailwinds
Wedbush also explicitly pointed to expectations for increased U.S. government support as strategic competition intensifies. [31] - M&A and supply-chain positioning
QUBT’s photonics acquisition narrative is a reminder that “quantum” is also a components and manufacturing story—not only qubits and algorithms. [32] - Risk appetite in the broader market
On days when mega-cap tech sells off, quantum stocks—often priced on long-dated potential—can see amplified downside. [33]
Bottom line at 6:00 p.m. ET
Quantum stocks finished deep in the red on Dec. 17, 2025, but the day’s newsflow was not uniformly negative: Wall Street is expanding coverage, IonQ delivered a $60+ million European commercialization update, and Quantum Computing Inc. reinforced its leadership roadmap while drawing attention to a photonics acquisition storyline. [34]
The immediate tension for investors remains the same: big long-term narratives (quantum as the next frontier of computing) colliding with short-term realities (small revenues, high volatility, and a market increasingly sensitive to “bubble” rhetoric). [35]
This article is for informational purposes only and is not investment advice.
References
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