D-Wave Quantum Stock Jumps on Expanded AT&T Partnership, Nasdaq Debut

Shares of D-Wave Quantum Inc. (QBTS) surged 17.8% in morning trading after the company announced an expanded partnership with AT&T and began trading on the Nasdaq stock exchange.

AT&T Deepens Quantum Integration

AT&T announced it is expanding its use of D-Wave’s annealing quantum computing technology to address complex optimization challenges within its network operations. According to the announcement, an early application demonstrated D-Wave's system could reduce a network optimization workload that previously took about an hour to complete in under 15 seconds.

Following these results, AT&T plans to integrate the quantum technology into tools that power its agentic AI solutions. The telecommunications firm also noted it is evaluating D-Wave’s next-generation gate-model quantum systems for potential applications in quantum security and communications.

Nasdaq Listing and Analyst Coverage

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A confluence of other positive developments supported the stock's advance. The trading session marked D-Wave's first as a Nasdaq-listed company, following a voluntary transfer from the New York Stock Exchange that became effective after the market close on July 24. CEO Dr. Alan Baratz and the management team rang the Nasdaq Opening Bell to commemorate the move.

Separately, the investment firm Benchmark initiated coverage on QBTS with a Buy rating and a $30 price target. According to Investing.com, this brings the analyst consensus to 13 Buy ratings and one Hold, with an average price target of $38.27.

Market Context

The rally, which saw shares reach an intraday high of $19.23, occurred amid a constructive backdrop for the broader market. A risk-on tone benefited high-growth technology stocks, with positive sentiment also lifting peer quantum computing companies like IonQ and Rigetti Computing.