Overview
- D‑Wave Quantum rose roughly 22% in early December after unveiling a U.S. government‑focused unit, though no new contracts were announced.
- Commentary now warns of a potential 2026 correction in quantum stocks, with unprofitable pure plays seen as most exposed and diversified tech viewed as safer exposure.
- Recent filings show several billionaires, including Warren Buffett via Berkshire Hathaway, bought a brand‑name quantum stock that was not IonQ, Rigetti, D‑Wave, or QCi.
- Quarterly reports underscore fragile finances: IonQ posted a $1.1 billion net loss in Q3 2025, Rigetti lost about $201 million, and D‑Wave lost $140 million.
- Quantum Computing Inc. touts a room‑temperature approach and more than $1.5 billion in cash and investments, yet it generated under $1 million in the past year and faces execution, competition, and dilution risks.