Nvidia's entry into the quantum computing space with two new open-source AI models has triggered a significant surge in related stocks, with D-Wave Quantum (QBTS) and IonQ leading the charge. The chipmaker launched the Ising Calibration and Ising Decoding models, targeting fundamental challenges in quantum processing and error correction. This move was widely interpreted by the market as a major endorsement of the quantum computing sector's near-term potential, reversing a more pessimistic narrative that had taken hold last year.
D-Wave Quantum's stock (QBTS) soared as much as 52% week-on-week, trading above $21. The rally was amplified by heavy options activity, with call buying significantly outpacing put buying, indicating strong trader optimism for further upside. Despite the weekly surge, QBTS's year-to-date performance remains negative. Adding to the momentum, D-Wave reported that its commercial bookings for the current period are already ahead of its total for the entire previous fiscal year 2025. Notably, D-Wave's CEO used the spotlight at the Semafor World Economy Summit to publicly challenge Nvidia on the critical issue of energy efficiency, positioning the company competitively amidst the sector-wide excitement.
IonQ experienced an even more dramatic jump, with its stock rising 60% over the same period. The company bolstered the positive sentiment with its own technological announcement: a breakthrough in photonically interconnecting two independent trapped-ion quantum systems, a step toward scalable, networked quantum architectures. CEO Niccolo de Masi stated this proves their platform is "uniquely suited for the high-fidelity networking required" for a future quantum internet.
The rally extended to other quantum players like Rigetti Computing and Infleqtion. Institutional interest was notably strong, with KBC Group NV increasing its stake in IonQ by a staggering 983.4% in Q4 to hold roughly $3.66 million worth of stock. Other funds, including Fortitude Family Office and Stone House Investment Management, also raised their positions substantially. Analysts maintain a cautious but generally positive outlook, with a consensus rating of "Moderate Buy" and an average price target of $69.45 for IonQ, despite some recent target reductions.
