D-Wave Quantum Inc. Common Stock

CGI has signed a partnership with D-Wave Quantum Inc. that folds D-Wave's hardware and hybrid solvers into CGI's client-facing technology services, moving the company's quantum computing efforts from slideware to a signed agreement. The deal lands as CGI's momentum has been mixed: its CA$101.39 share price sits after a 7 day share price return of 5.72% and a 90 day share price return of 5.90%, while its year to date share price return and 1 year total shareholder return are both down close to 20%. On the most widely followed view of the stock, a fair value of about CA$119.85 sits above the current CA$101.39 share price, putting the new D-Wave partnership into a context of already modelled AI and modernization upside. CGI's heavy reliance on large government and enterprise contracts, combined with integration risk from recent acquisitions, could weaken that upbeat, AI-driven valuation case.

D-Wave Quantum entered the third quarter with a definitive agreement with the U.S. Department of Commerce, providing access to up to $100 million in funding under the U.S. CHIPS and Science Act. The agreement, signed Sept. 8, builds on a previously announced Letter of Intent and supports efforts to advance domestic quantum computing capabilities. First-half bookings reached $35.5 million, up 1,120% year over year, while production applications accounted for 37.3% of first-half QCaaS revenues. On Aug. 5, D-Wave reported a research advance published in Nature involving its superconducting dual-rail architecture and quantum error correction, and on Jul. 27 it signed an agreement with AT&T to expand AT&T's use of its quantum computing technology, with early work cutting network optimization processing time from about one hour to less than 15 seconds. Among peers, IonQ completed the SkyWater acquisition on July 31 and updated its 2026 revenue outlook to $450-$460 million, while Rigetti received finalized CHIPS R&D funding of up to $100 million in September. D-Wave shares have lost 55.3% over the past year, and the stock carries a Zacks Rank #4 (Sell).

D-Wave Quantum Inc. launched a beta program for its gate-model quantum computing simulator, offering select customers early access ahead of general availability. The simulator is built around D-Wave's dual-rail superconducting gate-model technology, which is designed to use error detection to deliver efficient quantum error correction with significantly lower hardware overhead as systems scale. Beta participants include BBVA, FirstQFM, Florida Atlantic University and the Julich Supercomputing Centre. The company said the program marks an important milestone in its gate-model development roadmap and lets customers experiment with error-aware programming and build quantum applications in preparation for its forthcoming gate-model systems.

D-Wave Quantum and CGI announced a new partnership to promote quantum computing adoption across enterprise customers. The collaboration brings D-Wave's Advantage2 system and hybrid solvers into CGI's services for sectors including logistics, transportation and retail, with both parties aiming to move beyond research use cases toward commercial projects for corporate clients. The CGI partnership for D-Wave's Advantage2 and hybrid solutions is only one part of the wider investment story, and the article notes that its analysis turns up 2 warning signs for D-Wave Quantum as well. D-Wave Quantum develops and sells quantum computing hardware, software, and related services, positioning the group as a specialist infrastructure provider rather than a general-purpose software vendor. The article also cites a $35.24 fair value for D-Wave Quantum and notes that many reference customers are still stuck in proof-of-concept mode while losses continue to widen.

D-Wave Quantum has executed a definitive agreement with the U.S. Department of Commerce, based on its previously announced Letter of Intent, giving it access to up to $100 million in funding under the U.S. CHIPS and Science Act to accelerate research and development of its annealing and gate-model quantum systems. NTT DOCOMO, Japan's largest mobile operator, deployed a second D-Wave-powered quantum computing application in production, which cut location-registration signals generated when devices crossed tracking-area-list boundaries by 65.3% at the daily peak and reduced paging signals by 7.0%. D-Wave was also awarded up to CAD $300,000 from the National Research Council of Canada's Applied Quantum Computing Challenge program to advance annealing quantum computing software for commercial applications, and AT&T agreed to expand its use of D-Wave's quantum computing technology to address complex optimization challenges across its network operations. Separately, Rigetti plans to partner with HPE and Pittsburgh Supercomputing Center to build the TangleLab supercomputing testbed, delivering a 9-qubit Novera system to the testbed, which is funded by a $5 million National Science Foundation grant, while Quantum Computing signed a three-year framework agreement with Hamad Bin Khalifa University in Qatar covering quantum computing, quantum sensing and quantum communications. Over the past year, QBTS shares have lost 36.2% compared with the broader Internet Software industry's 5.8% decline, and the stock trades at a forward 12-month price-to-sales ratio of 93.25X versus the industry average of 4.40X.

IonQ said it tested the industry's first real-time quantum error decoder, sending its shares up 12% in premarket trading and lifting the broader quantum sector, with Rigetti Computing and D-Wave Quantum each up more than 5.5% and Infleqtion rising a similar amount. Worthington Enterprises surged about 16% after first-quarter adjusted earnings and revenue surpassed Street estimates, with CEO Joseph Hayek citing rapidly growing demand for the company's engineered American Society of Mechanical Engineers tanks used in liquid cooling systems for data centers. KB Home fell more than 1% after projecting fourth-quarter deliveries below expectations and housing gross margins of 16% to 16.6%, short of the 17.2% analysts polled by LSEG sought. Six Flags Entertainment rose 1% after a Wall Street Journal report that activist hedge fund Jana Partners was encouraging the company to explore a sale, following the fund's disappointment with Six Flags' second-quarter earnings report. Maplebear, the Instacart owner, gained more than 3% after announcing that customers on its grocery platform can use Meta's personal AI agent Muse, joining OpenAI's ChatGPT, Anthropic's Claude and Google's Gemini as AI partners.

D-Wave Quantum Inc. has appointed Bernard Gavgani, a long-time technology and operations leader at BNP Paribas, to its Board as an independent Class II director and member of the Cybersecurity Committee, effective 18 September 2026, with his term running until the 2027 Annual Meeting of Stockholders or until a successor is elected. Gavgani's background overseeing large-scale technology, cybersecurity and AI governance initiatives at a global financial institution brings additional enterprise-grade IT and risk-management expertise to the quantum computing company. The appointment comes as D-Wave pursues its July 2026 gate model roadmap, a capital intensive path toward error corrected superconducting systems, and deepens work with financial and government clients central to its QCaaS and system hub catalysts. D-Wave's narrative projects $201.1 million revenue and $23.0 million earnings by 2029, requiring 152.9% yearly revenue growth and an earnings increase of about $272 million from -$248.7 million today, while some of the lowest analysts assume revenue of about US$137.2 million by 2029 and still no profitability. The company's forecasts yield a $35.24 fair value, a 101% upside to its current price.

B. Riley Securities is maintaining bullish ratings on IonQ, D-Wave Quantum and Rigetti Computing ahead of Quantum World Congress, betting that a shift in government policy from pure research toward commercialization could open a more meaningful revenue path for the quantum-computing sector. The firm kept Buy ratings with price targets of $100 for IonQ, $40 for D-Wave and $35 for Rigetti. Analyst Craig Ellis pointed to the Department of Energy's From Lab to Market session at the September 23-25 conference as a sign that federal policy may increasingly focus on moving quantum technologies into commercial applications. The event will also feature a two-hour National Quantum Updates session with more than 10 governments, participation from the White House Office of Science and Technology Policy, and back-to-back keynotes from Microsoft and IBM. B. Riley's thesis is sector-wide, but the report provides no fresh revenue forecasts, cash-flow estimates, technical milestones or new valuation work behind the three price targets, leaving the stocks dependent on long-term expectations rather than near-term financial evidence.

Anderon, an IBM subsidiary, finalized a $1 billion research-and-development award from the U.S. Department of Commerce on Wednesday under the 2022 CHIPS and Science Act. The funding will support Anderon's efforts to advance quantum wafer manufacturing at its facility in Albany, New York, where a 300-millimeter quantum wafer foundry serves customers across the quantum industry. IBM has put up $1 billion of its own money alongside the federal award, and production is underway with quantum wafers already in process. The Anderon award is part of a broader $2 billion package distributed across nine quantum computing companies under the CHIPS and Science Act, with GlobalFoundries in line for $375 million and D-Wave Quantum, Rigetti Computing, and Infleqtion each expected to receive $100 million; each of the nine firms will give the federal government a minority ownership stake in exchange for the funding. The finalization follows a letter of intent between IBM and the Commerce Department announced in May, and last week Rigetti Computing, D-Wave Quantum, and Quantinuum each finalized $100 million deals with the department. IBM stock fell 3.3% on Wednesday and has declined nearly 19% this year.

Rigetti Computing reported second-quarter 2026 revenues of $5.1 million, up from $1.8 million a year earlier, driven mainly by sales of its 9-qubit Novera systems and related products. Customer concentration remains elevated, with one client contributing 64% of quarterly revenues and another accounting for 16%, while the company's $8.4 million C-DAC quantum system for India is expected to be recognized only after installation and acceptance testing in the fourth quarter of 2026. Operating expenses jumped 48% year over year to $30.3 million, including a 53% increase in research and development spending to $20.7 million, producing an operating loss of $28.1 million. Rigetti holds $541.3 million in liquidity, but management expects R&D investments and capital expenditures to remain elevated as it expands cryogenic infrastructure and fabrication capacity. Among peers, IonQ signed an $8.18 million commercial agreement with Congruity360 and launched its sixth-generation Superion 256 platform, while D-Wave Quantum finalized a definitive agreement with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding.

Wall Street closed the week lower as investors weighed a sharp rise in Treasury yields and fresh inflation data, with the benchmark 10-year yield climbing nearly 20 bps to 4.97% and CPI rising 0.4% month over month in August, in line with estimates and up from July's 0.1% gain. For the week, the blue-chip Dow fell 1.57%, the S&P 500 lost 0.80%, and the Nasdaq Composite handed back 0.66%. Apple formally unveiled the iPhone Duo, its first foldable smartphone, at its Sept. 9 product event, with a foldable display starting at $1,999 and availability scheduled for Oct. 23. Novartis shares fell about 14% on Tuesday after the company reported that del-desiran, an experimental drug designed to fight muscle-wasting disease, failed to meet the primary endpoint in a late-stage trial. Oracle shares jumped after the IT giant reported fiscal first-quarter results and guidance that beat Wall Street estimates, with revenue up 30% year over year and cloud revenue climbing 62% to $11.6B, driven largely by a 121% surge in infrastructure revenue. Quantum computing stocks Rigetti Computing, Quantum Computing, and Quantinuum rallied on Tuesday following a combined $300M CHIPS Act funding commitment from the U.S. Department of Commerce, under which the government will receive minority equity stakes in Rigetti and D-Wave.

Quantum computing stocks rallied Tuesday after three companies secured $100 million each in U.S. government funding, while IonQ raised its 2026 revenue forecast. D-Wave, Rigetti, and Quantinuum each received $100 million from the U.S. Department of Commerce through the CHIPS and Science Act, with the government taking minority equity positions. The funding is earmarked for research and development, not immediate sales, helping recipients tackle technical challenges as they scale quantum systems. IonQ separately lifted its 2026 revenue outlook to $450 million to $460 million from $280 million to $290 million, and introduced its Superion 256 platform with customer deliveries planned for 2027. In trading, D-Wave Quantum gained 6%, Rigetti Computing rose 4%, Quantum Computing added 2.6%, and IonQ climbed 2% even as the broader market fell.

D-Wave Quantum's stock has dropped about 21% over the past three months even as its contracted backlog grew nearly eightfold to $40.7 million by the end of June. First-half 2026 bookings reached $35.5 million, six times the $5.9 million of revenue recognized in the same period, with revenue down from $18.1 million a year earlier largely because $13.7 million of that came from a single annealing system sale. Management expects to ship two annealing quantum computers in the fourth quarter, including a $20 million machine for Florida Atlantic University, and says the fourth quarter should carry most of the year's revenue. Six customer applications are now in production, supplying over 37% of first-half subscription revenue compared with 9.8% a year earlier, with AT&T cutting a network task from about an hour to under 15 seconds and NTT DOCOMO reducing location registration signals by roughly 65%. The company posted a first-half adjusted EBITDA loss of $69.9 million against $546.2 million of cash and marketable securities, and the stock trades at more than 600 times trailing sales.

Quantum computing stocks surged on Friday after second-quarter earnings reports showed significant revenue gains across the sector. D-Wave climbed 7% after BMO Capital Markets initiated coverage with an Outperform rating and a $35 price target, citing an addressable market opportunity of $450 billion to $850 billion. Rigetti jumped 9% as system and component sales reached $4.1 million, up from zero a year earlier, while Quantum Computing leaped 8% after revenue rose to $5.6 million from $65,000. IQM Quantum Computers popped 7% after second-quarter revenue increased 27% year over year to $7.8 million and it guided full-year revenue of $49 million to $55 million, and Infleqtion surged 9% on a 112% year-over-year revenue jump. IonQ increased 7.5% after announcing a partnership with the Canadian Microelectronics Corporation to expand quantum computing access to Canada-based researchers and businesses.

Wall Street analysts see significant upside in three quantum computing stocks—Rigetti Computing, IonQ, and D-Wave Quantum—despite their speculative nature and recent volatility. Rigetti leads with an implied upside of about 81.4% based on a $28.81 target versus its $18.67 close, supported by a letter of intent for up to $100 million in CHIPS Act funding and a 185.3% year-over-year revenue jump to $5.14 million. IonQ posted record Q2 revenue of $80.05 million, up 286.8% year over year, raised full-year 2026 guidance to $280–$290 million, and carries a 68.19% implied upside from its $46.84 close. D-Wave's first-half bookings surged to $35.5 million from $2.9 million a year earlier, with AT&T integrating its annealing platform to cut processing time from one hour to under 15 seconds, though its implied upside is the smallest at 19.7%.

D-Wave Quantum has entered a partnership with Nasdaq Verafin to apply quantum computing to financial crime detection. The collaboration focuses on using D-Wave's quantum solutions to address complex financial crime analytics in the banking and financial services sector. The agreement marks an expansion of D-Wave Quantum's commercial work into real-world risk and compliance workflows beyond research settings. The partnership places D-Wave's quantum tools directly inside financial crime and compliance workflows in the banking sector, though it remains a proof-of-concept amid sizeable net losses and forecasts that do not yet point to profitability over the next three years.

D-Wave Quantum announced in August 2026 that it secured up to C$300,000 in funding from Canada's National Research Council and published peer-reviewed Nature research on a high-fidelity, hardware-level error-correcting two-qubit gate already integrated into its dual-rail gate-model systems. The government-backed software project and fault-tolerant gate-model breakthrough underscore D-Wave's effort to commercialize both annealing and gate-model quantum platforms for complex, real-world optimization and simulation workloads. The Nature paper directly reinforces D-Wave's dual-platform story and its long-term gate-model roadmap, connecting the near-term push to make Advantage2 more useful through better software with a tangible hardware step toward fault tolerance. However, the modest NRC grant and gate breakthrough do not materially change the near-term picture, where the key catalyst remains scaling real-world deployments and the biggest risk is persistent heavy losses if rising R&D and go-to-market spend fail to translate into larger, recurring contracts.

D-Wave Quantum reported second-quarter 2026 revenue of $3.1 million, essentially flat compared to the prior year, while bookings jumped 59% to $2.1 million. The company's first-half revenue fell 67% to $5.9 million due to a non-recurring $13.7 million system sale in 2025, but first-half bookings surged 1,120% to $35.5 million, driven by a $20 million system contract with Florida Atlantic University. Remaining performance obligations reached $40.7 million, up 668% year over year, with 57% expected to be recognized as revenue within 12 months. Commercial customers accounted for 62.4% of second-quarter revenue, up from 45.1% a year earlier, and Forbes Global 2000 customers represented 47.7% of total revenue versus 20.4% in the prior-year quarter. The company maintained guidance for two system deliveries in 2026 and expects fourth-quarter revenue to comprise the majority of annual revenue.

D-Wave Quantum Inc. has been awarded up to CAD $300,000 in funding from the National Research Council of Canada's Applied Quantum Computing Challenge program to advance annealing quantum computing software for commercial applications. In collaboration with the NRC, D-Wave's team in Burnaby, British Columbia, will develop next-generation graph minor-embedding algorithms for the Zephyr topology and integrate them into the open-source Ocean software development kit. These algorithms are expected to expand the scale and complexity of computations that D-Wave's Advantage2 systems can address across use cases including logistics, manufacturing, scheduling, resource allocation, machine learning, and quantum and materials simulation. The project aims to help organizations solve larger and more complex optimization problems on D-Wave's Advantage2 annealing quantum computers.

D-Wave Quantum reported first-half bookings of $35.5 million, up more than 1,100% from $2.9 million a year earlier, even as trailing-12-month revenue fell 44% to $12.4 million. The bookings surge includes a $20 million system sale whose revenue will be recognized in future quarters, while remaining performance obligations reached $40.7 million, up 668%. The company's market value climbed 38% to $7.5 billion, roughly 600 times trailing revenue and about 190 times its remaining performance obligations. D-Wave's net loss for the second quarter of 2026 was $48 million, and adjusted operating expenses rose 76% year over year.

D-Wave Quantum reported second-quarter 2026 revenue of $3.1 million, essentially flat year over year, while its backlog surged 668% to $40.7 million. QCaaS subscription revenue rose 50% to $1.9 million, and bookings increased 59% to $2.1 million. Net loss narrowed to $48 million from $167.3 million, primarily due to lower non-cash warrant-related charges, but adjusted EBITDA loss widened to $37.1 million as the company invested in product development and sales. Commercial adoption expanded, with production applications generating 37% of first-half QCaaS revenue, including deployments at AT&T, Optum, and NTT Docomo. The company expects modest third-quarter revenue growth and a significantly stronger fourth quarter driven by system shipments.

AT&T has agreed to expand its use of D-Wave Quantum's computing technology across its network operations, moving from proof-of-concept testing to broad operational deployment. The telecom giant plans to apply D-Wave's platform to additional workloads including outage detection, technician routing, and traffic management after early testing cut an optimization workload's processing time from one hour to under 15 seconds. D-Wave ended the second quarter with approximately $546.2 million in cash and marketable securities, while hedge fund ownership rose to 26 funds in the first quarter from 22 in the prior quarter. The expanded deal provides important validation for D-Wave's quantum computing platform, which targets optimization problems such as routing and scheduling.

Quantum computing stocks rallied sharply on Monday, led by D-Wave Quantum's 11% surge to $20.08 after announcing a collaboration with Nasdaq Verafin to develop quantum-hybrid applications for fraud detection, and IonQ's 9% jump to $39.62 following the close of its approximately $1.8 billion acquisition of SkyWater Technology. The broader NASDAQ 100 rose 1.52% amid easing Middle East tensions, amplifying the sector's deal-driven gains. Rigetti Computing and Quantum Computing rose 9% and 8% respectively, riding the risk-on sentiment despite no company-specific news, though both remain unprofitable. The Defiance Quantum ETF, which offers diversified exposure with a holdings-weighted P/E ratio of 28.34x, gained a more restrained 3% to $145.45 and is up 31% year to date.

AT&T is expanding its use of D-Wave Quantum's annealing-based quantum computing technology across multiple network operations workflows, reporting that a key network optimization workload was reduced from about one hour to less than 15 seconds. The expansion follows D-Wave's addition to the NASDAQ Composite Index and could support the investment narrative that annealing quantum systems are moving from proofs of concept to repeatable commercial workloads. However, D-Wave still faces risks including reliance on a few large contracts and widening operating losses, with the company projecting $173.5 million in revenue and a $21.0 million profit by 2029, requiring 140.7% annual revenue growth and a $389.0 million earnings swing from a current loss of $368.0 million.

AT&T stock may still be undervalued after nearly doubling investors' money over three years, with valuation checks leaning toward cheap at a recent price of $23.94. The company has completed a $23 billion spectrum purchase and expanded its partnership with D-Wave Quantum, moves that could support future network quality and efficiency. AT&T trades at a price-to-earnings ratio of about 7.6 times, well below the telecom industry average of 17.0 times and a peer group average of 11.2 times, and also below Simply Wall St's fair P/E estimate of 12.6 times. Broader valuation checks assess AT&T as undervalued in five of six areas, suggesting the stock screens as a bargain on most core metrics. The key question is whether heavy spectrum and quantum-related investment can translate into resilient earnings and cash flow without unexpected capital strain.

D-Wave CEO Alan Baratz warned that quantum computing will eventually be capable of breaking Bitcoin’s proof-of-work protocol. He made the statement during a Wednesday interview with Yahoo Finance. Baratz leads D-Wave, a prominent quantum computing company. His warning highlights a long-term security concern for the Bitcoin network.

Axe Compute Inc. has announced a five-year customer agreement valued at over $1.5 billion for a dedicated AI infrastructure cluster based on NVIDIA Blackwell GPUs. The deal, secured through the company's Build program, is part of a larger effort that brings Axe Compute's total signed contract value for 2026 to over $3 billion. The cluster will be deployed in the United States for high-demand AI workloads and is expected to substantially boost the company's annual run rate. In other trading, D-Wave Quantum rose 20.4% to close at $19.51 after AT&T expanded its use of D-Wave's quantum computing technology, while Z.AI fell 18.7% to close at HK$1,042.00.

The Cyberspace Administration of China, together with its counterparts in Beijing, Shanghai, Zhejiang, and Shenzhen, and five leading large model enterprises, jointly launched the "Special Initiative to Boost IPv6 Capabilities of AI Large Models" in Xiong'an New Area. The year-long initiative aims to promote full IPv6 support in generative large model applications. AT&T announced an expansion of its collaboration with D-Wave, using quantum computing technology to reduce network optimization workloads from about one hour to 15 seconds, a 240-fold speed increase. The world's largest single-batch export of green ammonia departed from Da'an, Jilin, arrived at Lianyungang, Jiangsu, and was loaded onto ships bound for South Korea, totaling 3,750 tonnes, marking a new stage of large-scale green energy exports for China. Apple's stock price hit a record high, with its market value surpassing 5 trillion US dollars, making it the second listed company globally after Nvidia to reach this milestone.

D-Wave Quantum shares surged as much as 19.6 percent to $19.39 on Monday after the company announced a commercial collaboration with AT&T and uplisted to the New York Stock Exchange. AT&T will apply D-Wave's annealing quantum computing technology to its agentic AI tools, which reduced network downtime by 12 million hours last year, and an early application cut a network optimization workload from one hour to under 15 seconds. The telecom giant plans to expand use across outage detection, technician routing, and traffic management, while also evaluating D-Wave's forthcoming gate-model systems for quantum security and communications. The NYSE listing under ticker QBTS is expected to improve liquidity and institutional visibility, though hedge fund holdings fell 67.4 percent to $55.7 million in the first quarter from $170.8 million in the prior quarter.

ASML dropped 8% after The Information reported China began mass production of domestically made deep ultraviolet chipmaking tools. Memory chip stocks were mixed as CXMT soared more than 466% in its Shanghai debut, while SK Hynix fell over 8%, SanDisk slid 11%, and Micron Technology lost 5%. SAP jumped more than 7% after announcing the second part of a 10 billion-euro stock buyback. Forte Biosciences rallied about 40% on a $2.2 billion cash acquisition by Argenx at $77 per share, a 40% premium to Friday's close. Brown-Forman climbed almost 4% after rejecting a $15 billion unsolicited takeover offer from Sazerac at $32 per share. Baker Hughes gained 6% on better-than-expected second-quarter earnings and revenue, while Amkor Technology fell 7% ahead of its quarterly report. D-Wave Quantum added 5% on a partnership with AT&T to use annealing quantum computers for AI, and MapLight Therapeutics plunged 68% after a Phase 2 schizophrenia trial missed its primary endpoint.

D-Wave Quantum shares rose 7% to $19.29 after announcing an expanded agreement with AT&T to deploy its annealing quantum systems across network operations. An early application cut a network optimization workload from about one hour to under 15 seconds, a 240x speedup, and AT&T plans to extend the work to outage detection, technician routing, network build planning, and traffic management. Benchmark initiated D-Wave at Buy with a $30 price target. Sympathy moves lifted IonQ 12% to $36.67, Rigetti Computing 12% to $15.88, and Quantum Computing Inc. 8% to $8.06, while the Defiance Quantum ETF rose 1% to $141.12. Rigetti also announced an expanded collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to build TangleLab, a hybrid quantum-classical supercomputing testbed funded by a $5 million National Science Foundation grant, with full operations expected in 2027. Despite the rally, D-Wave trades at a price-to-sales ratio of 482.56 against trailing revenue of $12.44 million, and the pure-play quantum names remain down 16% to 29% year to date.

Memory stocks rose broadly after Chinese chipmaker CXMT debuted on the Shanghai public market with its stock surging more than 466%, lifting U.S.-listed peers including Micron Technology which advanced 2.5%. Energy stocks followed oil prices lower after the U.S. and Iran agreed to pause attacks, with Chevron down 2.7%, ExxonMobil down 3.2%, and APA, Devon Energy, and Diamondback Energy each falling around 4%. Forte Biosciences rallied more than 39% on news it will be acquired by Netherlands-headquartered Argenx for $2.2 billion in cash, or $77 per share, a 40% premium to Friday's close. Baker Hughes gained nearly 2.2% after reporting better-than-expected second-quarter earnings and revenue, with the CEO citing favorable fundamentals and reaffirming full-year guidance. D-Wave Quantum rose more than 7% after announcing a partnership with AT&T to use its annealing quantum computers for AI, while IonQ gained nearly 4.5% and Rigetti Computing added 3.8%.