D-Wave Quantum

What D-Wave Quantum does

D-Wave Quantum Inc. (NYSE: QBTS) is a publicly-traded quantum computing company founded in 1999 and headquartered in Palo Alto, California, with additional R&D and engineering operations in Burnaby, British Columbia, and New Haven, Connecticut. The company pioneered commercial quantum annealing and now operates a dual-platform strategy, combining the sixth-generation Advantage2 annealing system (4,400+ superconducting qubits with Zephyr 20-way topology) with a gate-model quantum computing platform based on the proprietary dual-rail qubit architecture acquired from Yale spinout Quantum Circuits Inc. in January 2026 for approximately $550M. Customers access the technology via on-premises hardware sales, the Leap real-time quantum cloud service (available in 40+ countries with 99.9% uptime and SOC 2 Type 2 compliance), the open-source Ocean SDK on GitHub, and the dwave-pytorch-plugin Quantum AI Toolkit. The company serves enterprise, government, and research customers, including Volkswagen, BASF, SAP, NTT DOCOMO, Ford Otosan, DENSO, Johnson & Johnson, Jülich Supercomputing Centre, Florida Atlantic University, the Italian government, Davidson Technologies, and Anduril Industries.

Name

D-Wave Quantum

Legal name

D-Wave Quantum Inc.

Website

https://dwavequantum.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

D-Wave Quantum (NYSE: QBTS) is a public quantum computing company that designs and sells superconducting systems, including the 4,400+ qubit Advantage2 annealing platform and a dual-rail gate-model system, serving enterprises, governments, and research institutions across more than 40 countries.

Ownership category

akta.pro rank

Product category

Quantum Computing Systems

NAICS

Semiconductor and Related Device Manufacturing (334413), Computer Systems Design and Related Services (5415)

SIC

Semiconductors & Related Devices (3674)

akta.pro primary industry

Superconducting QPU Systems (HDAGAAAA)

akta.pro secondary industries

Domain-Specific Hybrid Application Platforms (Optimization/Finance/Chemistry/Logistics) (HDAGANAJ), Hybrid Algorithm Frameworks & Libraries (VQE/QAOA/QML Tooling) (HDAGANAC), Quantum Application Engineering & Solution Delivery Services (HDAGALAD)

Keywords

• Quantum computing systems
• Quantum annealing hardware
• Quantum cloud services
• Hybrid optimization solvers
• Superconducting quantum processors

Headquarters

HQ city

Palo Alto

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. On-Premises Quantum System Sales: One-time hardware sales of Advantage2 annealing systems to enterprises, governments, and research institutions (e.g., Jülich Supercomputing Centre purchase); includes installation, calibration, and ongoing maintenance.
2. Leap Quantum Cloud Service Subscription: Recurring cloud subscription providing real-time access to Advantage2 annealing systems and hybrid solvers; usage-based on QPU time; $100M-$120M annual revenue capacity across four production systems according to CEO disclosure; SOC 2 Type 2 compliant, 99.9% uptime.
3. Hybrid Solver / QCaaS Consumption: Usage-based consumption for quantum-classical hybrid solving of problems up to 2 million variables/constraints; flagship example: $10 million two-year Quantum Compute-as-a-Service agreement with a Fortune 100 customer.
4. Professional Services (D-Wave Launch Program): Multi-phase consulting services engagement (Problem Discovery, Quantum PoC, Production Pilot, In-Production) sold alongside cloud access and training to enterprise customers to take them from use case to production deployment.
5. Training and Certification: Paid self-paced virtual training courses (Quantum Programming Core, Foundations for Quantum Programming) plus the QuickStart bundle adding unlimited Leap access; team and gift seats available.
6. Government Funding / Equity Investment: Equity-financed government funding under the CHIPS and Science Act ($100 million LOI from the U.S. Department of Commerce in exchange for $100M in D-Wave common stock) supporting R&D at Florida, Connecticut, and British Columbia facilities; plus Microelectronics Commons SQFab project award.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels11 records

Core offering

D-Wave designs, manufactures, and sells superconducting quantum computing systems based on both quantum annealing and gate-model architectures. It commercializes the Advantage2 annealing system (4,400+ qubits) as on-premises hardware and via the Leap real-time quantum cloud service, complemented by hybrid solvers, open-source developer tools (Ocean SDK), professional services (D-Wave Launch program), and training. Following its January 2026 acquisition of Quantum Circuits Inc., D-Wave is adding a dual-rail superconducting gate-model platform alongside its annealing business.

Differentiator

Problem solved

Functional benefit

Brands

• Advantage2: D-Wave's sixth-generation annealing quantum computer with 4,400+ qubits, 20-way Zephyr topology, available on-premises or via the Leap cloud service.
• Leap
• Ocean
• D-Wave Launch
• Quantum Circuits

Products and services

• Advantage2 Quantum Computer D-Wave's sixth-generation superconducting annealing quantum computer, featuring more than 4,400 qubits in a Zephyr topology with 20-way connectivity, a 40% higher energy scale, 75% lower noise, 2x coherence, and a fast-anneal feature. Sold as on-premises hardware (with installation, calibration, and ongoing maintenance) to enterprises, governments, and research institutions such as Jülich Supercomputing Centre and Florida Atlantic University, and used to solve large-scale combinatorial optimization problems.
• Leap Quantum Cloud Service Real-time quantum cloud service providing immediate access to D-Wave Advantage/Advantage2 quantum processors and hybrid solvers, including the Stride solver handling problems of up to 2 million variables and constraints. Offers 99.9% uptime, subsecond response times, SOC 2 Type 2 compliance, and is available in 40+ countries. Sold as a recurring cloud subscription with usage-based QPU-time pricing to enterprise and developer customers.
• D-Wave Launch Professional Services Program A four-phase professional services engagement (Problem Discovery, Quantum Proof of Concept, Production Pilot, In-Production) sold alongside cloud access and training to enterprise customers. Includes online training, access to the Leap quantum cloud service, expert guidance, and partner support to take customers from problem identification to production quantum deployment.
• D-Wave Quantum Training and Certification Courses Paid self-paced virtual training courses including Quantum Programming Core (one-week virtual course with 12 minutes of solver access) and Foundations for Quantum Programming (prerequisite), plus the Quantum QuickStart bundle that adds one month of unlimited Leap access after training. Sold per seat with team and gift-seat options for enterprise and individual learners.

Named customers32 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered flagship and core.

• Yale UniversityflagshipStrategic or Co-development Partner · 25 June 2026Yale-led ERASE (Erasure Qubits and Dynamic Circuits for Quantum Advantage) project backed by $4M National Science Foundation grant. D-Wave is collaborating as the partner that acquired Yale start-up Quantum Circuits, Inc., and is substantially expanding its R&D workforce in New Haven, Connecticut, as part of the second-phase research toward the first large-scale, error-correcting quantum computer.
• Quantum Circuits Inc. (Yale spinout, now subsidiary)flagshipStrategic or Co-development Partner · 1 January 2026D-Wave completed acquisition of Yale spinout Quantum Circuits Inc. in January 2026 (reported values: $250M at Investor Day, $538.5M and $550M in other sources). Brings proprietary dual-rail superconducting gate-model qubit architecture with hardware-level error detection, accelerating D-Wave's gate-model roadmap toward 100 logical qubits by 2032.
• Davidson TechnologiescoreImplementation/ SI/ Consulting PartnerActive defense work on hybrid-quantum missile defense applications. Davidson's quantum-hybrid application analyzed more than 67 million possible solutions and generated an answer in approximately 13 seconds, supporting homeland security missions.
• Anduril IndustriescoreImplementation/ SI/ Consulting PartnerActive defense collaboration with D-Wave on missile defense applications leveraging annealing quantum computing for national security workloads.
• Carahsoft Technology Corp.flagshipChannel Partner/ Reseller/ DistributorMaster Government Aggregator for D-Wave, serving as channel partner for US Federal, State and Local Government, Education, and Healthcare public-sector customers. Provides government IT procurement vehicle access at https://www.carahsoft.com/d-wave.
• NORDTECH (Northeast Regional Defense Technology Hub)coreStrategic or Co-development PartnerSecond-year funding awarded to D-Wave subsidiary Quantum Circuits, LLC for the SQFab (Improved Materials for Superconducting Qubits with Scalable Fabrication) project. Part of $25M+ in second-year funding across four programs under the U.S. Microelectronics Commons initiative supporting domestic microelectronics manufacturing capabilities.
• U.S. Microelectronics Commons Program (DoD-funded)coreStrategic or Co-development PartnerYear 2 funding awarded to Quantum Circuits, LLC (D-Wave subsidiary) for the SQFab project to advance superconducting qubit materials and scalable fabrication methods under the NORDTECH regional hub.
• U.S. Department of Defense (CDAO Tradewinds Solutions Marketplace)coreGTM or Marketing PartnerD-Wave has achieved 'Awardable' status through the Chief Digital and Artificial Intelligence Office's (CDAO) Tradewinds Solutions Marketplace, enabling procurement of D-Wave's annealing quantum computing technology alongside AI/ML, data, and analytics capabilities for DoD customers.

Scale indicators16 records

Recent moves9 records

Expansion highlights8 records

Broad incumbents

• Microsoft Azure Quantum: Microsoft Azure Quantum is a hyperscaler cloud platform aggregating access to multiple quantum hardware providers (including Quantinuum, IonQ, Rigetti and Atom Computing) plus Microsoft's own topological qubit research. It competes with D-Wave's Leap cloud service for enterprise quantum workloads and developer mindshare, and is a key channel partner/competitor dynamic for D-Wave's enterprise sales motion.
• Google Quantum AI: Google Quantum AI operates superconducting gate-model quantum processors (Sycamore, Willow) and has published landmark quantum-advantage experiments. It competes with D-Wave for talent, research customers and government quantum funding, though its offering is purely gate-model and primarily research-oriented rather than commercial cloud service.
• Amazon Braket: Amazon Braket is AWS's managed quantum computing service providing access to multiple quantum hardware backends (IonQ, Rigetti, QuEra, IQM) plus classical simulators. It competes with D-Wave's Leap cloud for cloud-based quantum compute consumption by enterprise and research customers, and shapes developer expectations around quantum cloud APIs and pricing.
• IBM Quantum: IBM Quantum is the most established commercial gate-model quantum computing platform, offering superconducting qubit systems (Condor, Heron) accessible via the IBM Cloud with a deep enterprise and research ecosystem. It is comparable to D-Wave as a public, commercial quantum-hardware vendor serving Fortune 500 and government customers, but focuses on gate-model rather than annealing.

Emerging players

• PsiQuantum: PsiQuantum is a well-capitalized private company building fault-tolerant photonic quantum computers at utility scale, with major government partnerships in Australia and the U.S. It is an emerging competitor pursuing the same large-scale quantum computing market D-Wave targets, though with a fundamentally different photonic technology and longer time-to-revenue.

Direct peers

• Quantum Computing Inc. Quantum Computing Inc. (Nasdaq: QUBT) is a small-cap public quantum computing company pursuing both hardware (Dirac-based optimization) and software (QUBO-based tools) for enterprise and government customers. It competes with D-Wave at the lower end of the quantum-optimization market and for similar investor mindshare, though at much earlier technology and revenue scale.
• IonQ: IonQ is a publicly listed (NYSE: IONQ) full-stack quantum computing company using trapped-ion technology and offering cloud access via AWS, Azure and Google Cloud. It is a direct competitor to D-Wave for enterprise quantum-computing cloud subscriptions, government contracts and capital markets attention, with a contrasting hardware modality.
• Quantinuum: Quantinuum (a Honeywell/Cambridge Quantum combination) is a leading trapped-ion quantum computing company with both H-Series hardware and a software stack (TKET, InQuanto). It is a direct competitor to D-Wave in commercial quantum computing, particularly for government, pharmaceutical and chemistry workloads, with a recently announced public-market path.
• Rigetti Computing: Rigetti is a publicly listed (Nasdaq: RGTI) superconducting gate-model quantum computing company offering on-premises systems and cloud access through its QCS platform. It is a direct competitor to D-Wave in superconducting quantum hardware, targeting enterprise, government and research customers with similar go-to-market motion.

Others

• NVIDIA (quantum and AI simulation): NVIDIA provides GPU-accelerated classical simulation platforms (cuQuantum, DGX Quantum) and is positioning itself as the compute substrate for both classical AI and quantum-classical hybrid workflows. It is an adjacent/ecosystem player to D-Wave — partly a competitor (classical simulation as an alternative to real quantum hardware) and partly a potential partner for hybrid quantum-AI workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/dwavesys
• GitHubgithub.com/dwavesystems
• YouTubeyoutube.com/user/dwavesystems
• Facebookfacebook.com/dwavesys
• LinkedInlinkedin.com/company/d-wave-quantum
• Instagraminstagram.com/dwavequantum

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds29 records

Investors29 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about D-Wave Quantum