Highlights

  • D-Wave Quantum shares rose 15.4% in December following government business unit announcement.
  • Analysts from Mizuho and Jefferies initiated coverage with favorable ratings.
  • January gains of 10% supported by new cryogenic chip breakthrough and USD 550M acquisition.

D-Wave Quantum Inc (NYSE:QBTS) is closed at 28.80 USD, up 2.45% on the day. The stock has maintained momentum following gains in December and continued growth in early 2026, reflecting investor attention on company developments in government business and quantum technology.

Government Business Unit Drives December Gains
D-Wave Quantum saw its stock rise 15.4% in December. The increase followed the company’s Dec. 2 announcement of a U.S. government business unit. The unit is designed to explore potential contracts in defense and related sectors, an area of growing interest for investors. The launch highlighted the potential for government-focused projects to contribute to long-term sales.

Analyst Coverage Boosts Investor Confidence
Analyst attention played a significant role in supporting the stock’s momentum. On Dec. 11, Mizuho initiated coverage on D-Wave with an outperform rating and a one-year price target of 46 USD per share, citing the company’s strengths in quantum-annealing technologies and growth potential through acquisitions and other quantum methodologies. Shortly after, on Dec. 16, Jefferies began coverage with a buy rating, emphasizing rising demand for quantum computing technologies and identifying D-Wave’s Advantage2 system as a near-term performance driver.

2026 Gains Fueled by Technology and Acquisition News
The stock continued its upward trend in January, gaining 10% as of early trading. On Jan. 6, D-Wave announced a breakthrough in scalable on-chip cryogenic control of qubits, suggesting its cryogenic control technologies for annealing-based quantum computing could have broader applications.

The following day, the company revealed plans to acquire Quantum Circuits for 550M USD, with the transaction expected to close later in January. These developments contributed to analyst optimism. Rosenblatt maintained a buy rating and raised its one-year price target to 43 USD from 40 USD, citing the acquisition and chip-control breakthroughs as catalysts.