Cardinal Health IncCAH
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Impact on assets 4
Health Care
Quantum Computing
Rigetti Computing IncRGTI
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Q2 adjusted loss per share missed estimates and operating loss widened due to higher R&D and SG&A expenses.
Theme Impact 1
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DARPA taps IBM and IonQ for Stage C of fault-tolerant quantum computing push
DARPA has selected IBM and IonQ to lead the next phase of its Quantum Benchmarking Initiative, aimed at developing a fault-tolerant quantum computer. The two companies advanced to Stage C of the program, which moves beyond conceptual plans to hardware tests conducted by DARPA's independent verification and validation team. DARPA launched the Quantum Benchmarking Initiative in 2024 to determine whether an industrially useful fault-tolerant quantum computer can be built by 2033, and IBM and IonQ both took part in the first two stages. IBM is developing its Quantum Starling fault-tolerant computer and expects to deliver the first fault-tolerant system in 2029, according to Jay Gambetta, Director of IBM Research, while IonQ is pursuing continued improvement and deployment of its Superion systems. The Stage C agreement has a potential value of $300M to continue validating IonQ's approach to delivering large-scale fault-tolerant quantum computers, though funding beyond the initial obligation remains subject to future appropriations and DARPA funding actions.
About megatrends
Quantum Computing › Quantum Hardware — Pure-plays ▲Technology
Quantum Computing › Quantum Hardware — Hyperscaler / Diversified Embedded ▲Technology
Quantum Computing › Trapped-Ion ▲Technology
Quantum Computing › Superconducting Qubits ▲Technology
Quantum Computing › Photonic & Other Modalities Technology
IBM · Technology · Positive DARPA selected IBM to lead Stage C of its Quantum Benchmarking Initiative, advancing its fault-tolerant quantum computing hardware toward validation.
IONQ · Technology · Positive DARPA selected IonQ for Stage C of the Quantum Benchmarking Initiative, with a potential $300M agreement to validate its fault-tolerant quantum computing approach.
United States▲
D-Wave Quantum Secures Up to $100 Million in CHIPS Act Funding
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).
About megatrends
Quantum Computing › Quantum Hardware — Pure-plays ▲Capital
Quantum Computing › Quantum Software, Algorithms & Cloud Access ▲Capital
Quantum Computing › Superconducting Qubits ▲Capital
Quantum Computing › Quantum Annealing ▲Capital
QBTS · Regulation · Positive Definitive agreement with the U.S. Department of Commerce gives access to up to $100 million in CHIPS and Science Act funding.
QBTS03.BK · Regulation · Positive Definitive agreement with the U.S. Department of Commerce gives access to up to $100 million in CHIPS and Science Act funding.
T · Demand · Positive Signed an agreement with D-Wave to expand AT&T's use of its quantum computing technology, cutting network optimization time.
United States▲
Zapata Quantum Joins IBM Quantum Network to Build Practical Applications
Zapata Quantum has joined the IBM Quantum Network, the company announced, with plans to use IBM's quantum computers alongside its own use-case discovery and application development expertise. The Boston-based company, which trades over the counter under the ticker ZPTA, said the effort aims to close the quantum application gap by translating advances in quantum computing into mission-critical applications. Chief Executive Sumit Kapur said IBM's rapid progress toward fault-tolerant quantum computing brings that application gap into sharper focus, while Vice President of Strategy and Co-Founder Jonny Olson said superconducting qubits remain one of the most capable paths to advantage because their hardware is fast. The move builds on prior joint research between the two companies, including a landmark study published in Nature Biotechnology that produced experimentally validated candidates targeting KRAS and was named one of the journal's Top 10 Articles of 2025, as well as co-authored work in npj Quantum Information on variational quantum factoring. Zapata said insights from the network will inform Quantum Pilot, its hardware-agnostic platform that helps enterprises identify, prioritize and develop quantum applications as hardware matures.
About megatrends
Quantum Computing › Quantum Software, Algorithms & Cloud Access ▲Technology
Quantum Computing › Superconducting Qubits ▲Technology
Quantum Computing › Quantum Hardware — Hyperscaler / Diversified Embedded ▲Technology
ZPTA · Technology · Positive Zapata joins IBM Quantum Network to use IBM hardware with its own application-development expertise, advancing its Quantum Pilot platform.
IBM · Technology · Positive Zapata joins IBM Quantum Network to build applications on IBM's quantum computers, expanding IBM's quantum ecosystem.
United States
Germany
Spain▲
D-Wave Launches Gate-Model Simulator Beta Program
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.
About megatrends
Quantum Computing › Superconducting Qubits ▲Technology
Quantum Computing › Quantum Software, Algorithms & Cloud Access ▲Technology
Quantum Computing › Quantum Hardware — Pure-plays ▲Technology
QBTS · Technology · Positive D-Wave launched a beta program for its gate-model quantum simulator built on its dual-rail superconducting technology, advancing its product roadmap.
QBTS03.BK · Technology · Positive D-Wave launched a beta program for its gate-model quantum simulator built on its dual-rail superconducting technology, advancing its product roadmap.
United States
Japan
Canada
QatarD-Wave Quantum Secures Up to $100 Million in CHIPS Act Funding and New Deals
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.
About megatrends
Quantum Computing › Quantum Annealing ▲Demand
Quantum Computing › Quantum Hardware — Pure-plays Capital
Quantum Computing › Superconducting Qubits Technology
QBTS · Capital · Positive D-Wave secured a definitive agreement for up to $100M in CHIPS Act funding to accelerate its quantum R&D.
QBTS · Demand · Positive NTT DOCOMO deployed a second D-Wave-powered application in production and AT&T agreed to expand its use of D-Wave technology.
QUBT · Demand · Positive Quantum Computing signed a three-year framework agreement with Hamad Bin Khalifa University covering quantum computing, sensing and communications.
RGTI · Demand · Positive Rigetti plans to partner with HPE and Pittsburgh Supercomputing Center to build the TangleLab testbed, delivering a 9-qubit Novera system.
9432.JP · Demand · Positive NTT DOCOMO deployed a second D-Wave-powered quantum application in production, cutting location-registration and paging signals.
T · Demand · Positive AT&T agreed to expand its use of D-Wave's quantum computing technology for network optimization challenges.
United States▲
B. Riley Keeps Buy Ratings on IonQ, D-Wave and Rigetti Ahead of Quantum World Congress
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.
About megatrends
Quantum Computing › Quantum Hardware — Pure-plays ▲Regulation
Quantum Computing › Quantum Annealing ▲Regulation
Quantum Computing › Trapped-Ion ▲Regulation
Quantum Computing › Superconducting Qubits ▲Regulation
Quantum Computing › Quantum Hardware — Hyperscaler / Diversified Embedded Regulation
IONQ · Capital · Positive B. Riley maintains Buy rating and $100 price target on IonQ ahead of the conference
QBTS · Capital · Positive B. Riley maintains Buy rating and $40 price target on D-Wave ahead of the conference
RGTI · Capital · Positive B. Riley maintains Buy rating and $35 price target on Rigetti ahead of the conference