Shares in D-Wave Quantum, the highest performer among quantum computing stocks in 2025, climbed on Wednesday after the company announced a 10-million euro contract with Swiss Quantum Technology.
D-Wave said the agreement represents a 10-million euro commitment from Swiss Quantum, which holds an option to purchase a system.
Quantum computing works on a subatomic level and uses exotic technologies, like supercold superconductor chips. Quantum computing aims to solve problems too complex for today's classical computers.
D-Wave stands out as the chief developer of one flavor of quantum technology. Founded in 1999, the company pioneered the process called "quantum annealing."
"As Europe extends its quantum leadership, we believe that D-Wave's production-grade annealing quantum computing technology will serve as a critical component, fueling quantum application development and adoption now," said D-Wave Chief Executive Alan Baratz, in a statement.
On the stock market today, D-Wave stock climbed more than 4% to 44.94 in morning trading.
Most quantum computing companies are focused on building "gate model" quantum computers using different "qubit" technologies, such as superconducting chips, trapped ion, and photonic qubits. D-Wave is developing its own gate model technology.
Quantum Computing Stocks Jump In 2025
Further, D-Wave has been raising capital and has roughly $800 million in cash on its balance sheet.
D-Wave reported a wider-than-expected second-quarter loss while revenue topped views. D-Wave reported an 8-cent loss on an adjusted basis versus a 10-cent loss a year earlier. Revenue rose 42% to $3.1 million.
Meanwhile, D-Wave stock has advanced about 412% in 2025. That's the biggest gain among quantum computing stocks.
Shares in IonQ are up 85% this year. Shares in Rigetti Computing have advanced about 267%. Quantum Computing is up 31%.
Investors watching quantum stocks should pay attention to a key IBD metric — average true range.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
