On November 10, quarterly earnings from D-Wave Quantum (QBTS) and CoreWeave (CRWV) delivered a broader signal: enterprise and government customers are increasingly committing capital to AI and quantum computing infrastructure before those markets reach full-scale commercialization.
D-Wave Quantum reported fiscal Q3 revenue of $4.5 million, up 21% year over year, but also posted a wider-than-expected loss of $0.13 per share. While the stock slipped, the more important development was in forward-looking metrics. Bookings for the first nine months of 2026 surged 611% to $37.4 million, and remaining performance obligations rose 1,221% to $38.3 million. D-Wave also highlighted a second production application with Japanese telecom giant NTT DOCOMO, where its hybrid quantum technology reduced peak location registration signals by 65.3% and paging signals by 7.0%. In addition, the company announced a definitive agreement with the U.S. Department of Commerce that could provide up to $100 million in CHIPS and Science Act funding for next-generation quantum computers, including a 100,000-qubit annealing system and a 10,000-qubit gate-model system.
CoreWeave also impressed after the close. The AI infrastructure provider posted Q3 revenue of $3.66 billion, up 168% year over year, raised full-year guidance to at least $13 billion, and disclosed a backlog of approximately $132.5 billion. Active power capacity exceeded 1.7 gigawatts after the company added more than 200 megawatts during the quarter. Management also increased its 2026 capital expenditure outlook to $37 billion–$39 billion. The results suggest AI compute demand remains supply-constrained rather than demand-constrained, with customers committing funds before capacity is delivered.
Neither report directly concerns cryptocurrencies, but the strength in AI and quantum infrastructure demand could influence sentiment in crypto sectors tied to AI, high-performance computing, and decentralized compute. No specific digital assets are directly mentioned or clearly affected by these earnings.
