Is D-Wave Quantum (QBTS) Using the Southeastern Consortium to Quietly Recast Its Competitive Moat?

• In February 2026, D-Wave Quantum Inc. joined the newly formed Southeastern Quantum Collaborative as an inaugural member, partnering with regional universities, IBM, Davidson Technologies, and Alabama A&M University to advance quantum information science and workforce development across the U.S. Southeast.
• By tying its Advantage2 system hosted at Davidson’s Huntsville facility into this consortium, D-Wave gains a practical channel to embed its technology in real-world defense and industrial training programs, potentially deepening customer engagement and use-case development.
• With this collaborative role and its Advantage2 system central to regional training, we’ll examine how the development reshapes D-Wave’s investment narrative.

Rare earth metals are an input to most high-tech devices, military and defence systems and electric vehicles. The global race is on to secure supply of these critical minerals. Beat the pack to uncover the 30 best rare earth metal stocks of the very few that mine this essential strategic resource.

D-Wave Quantum Investment Narrative Recap

To own D-Wave Quantum today, you need to believe that quantum annealing and its emerging gate model roadmap can convert early pilots into durable QCaaS and system revenue. The Southeastern Quantum Collaborative membership supports this thesis by embedding Advantage2 into a regional defense and industrial training hub, but it does not change the near term reality that the biggest catalyst is execution on large contracts and the key risk remains reliance on a handful of lumpy system deals and ongoing losses.

In that context, the recent US$20,000,000 Advantage2 sale and broader partnership with Florida Atlantic University look especially relevant. FAU’s on site system and Boca Raton hub echo the Huntsville model, where a physical D-Wave machine anchors education, research, and potential government and enterprise workloads. Together, these hubs could be important testing grounds for whether D-Wave’s mix of QCaaS usage, system sales, and defense focused collaborations can grow into steadier, repeatable revenue.

Yet, despite this progress, investors should still be aware of how dependent the story is on a few large contracts and the risk that...

Read the full narrative on D-Wave Quantum (it's free!)

D-Wave Quantum's narrative projects $122.5 million in revenue and $15.2 million in earnings by 2028. This requires 71.8% yearly revenue growth and an earnings increase of about $414 million from -$398.8 million today.

Uncover how D-Wave Quantum's forecasts yield a $38.54 fair value, a 114% upside to its current price.

Exploring Other Perspectives

Some of the lowest ranked analysts were already assuming about 62% annual revenue growth and ongoing losses, which is far more cautious than the consensus and highlights how differently you might weigh the risk that government focused hubs like SQC and FAU’s site take longer to ramp into meaningful QCaaS and system revenue.

Explore 88 other fair value estimates on D-Wave Quantum - why the stock might be worth less than half the current price!

Form Your Own Verdict

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

• A great starting point for your D-Wave Quantum research is our analysis highlighting 2 key rewards and 4 important warning signs that could impact your investment decision.
• Our free D-Wave Quantum research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate D-Wave Quantum's overall financial health at a glance.

Seeking Other Investments?

The market won't wait. These fast-moving stocks are hot now. Grab the list before they run:

• Explore 23 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research.
• Invest in the nuclear renaissance through our list of 85 elite nuclear energy infrastructure plays powering the global AI revolution.
• AI is about to change healthcare. These 27 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com