Quantum stocks rally as D-Wave jumps 11% on Nasdaq Verafin deal

Quantum computing stocks rallied Monday as D-Wave jumped 11% on a Nasdaq Verafin deal and IonQ gained 9% after closing its $1.8 billion SkyWater buyout.

"The collaboration is an opportunity to demonstrate how quantum computing can help tackle some of the financial services industry's most complex challenges," Alan Baratz, chief executive at D-Wave Quantum, said.

The broader tape helped. The NASDAQ 100 rose 1.52% as investors digested easing Middle East tension after President Trump called off strikes on Iran, pushing the sector's deal-driven bid higher. Rigetti Computing gained 9% to $16.23 and Quantum Computing rose 8% to $8.74, both without company-specific news, while the Defiance Quantum ETF added 3% to $145.45.

The moves mark a rebound for a sector that had been beaten down. D-Wave came into Monday down 31% year to date, Rigetti down 33% and Quantum Computing down 21%, leaving the pure plays vulnerable to sharp sympathy swings when deal news renews the theme. IonQ's next earnings report, due Aug. 5, is the next hard test.

D-Wave's Nasdaq Verafin Deal Is Early-Stage

D-Wave and Nasdaq Verafin, the exchange operator's financial-crime-technology unit, agreed to develop quantum-hybrid applications targeting fraud, scams and money laundering using D-Wave's annealing quantum technology. The engagement begins as a proof-of-concept with potential to expand to pilot applications, so this is early-stage collaboration rather than a signed revenue contract. Nasdaq Verafin's platform serves more than 2,800 financial institutions with roughly $13 trillion in combined assets.

IonQ Closes SkyWater, QTUM Offers Diversified Angle

IonQ closed its approximately $1.8 billion acquisition of SkyWater Technology after U.S. Federal Trade Commission clearance. SkyWater shareholders receive $15 in cash plus 0.4883 IonQ shares per share, and SkyWater becomes a subsidiary with CEO Thomas Sonderman reporting to IonQ CEO Niccolo de Masi. IonQ is framing the deal as building a vertically integrated U.S. quantum supply chain, though the stock carries a trailing 12-month P/E of 101.45x, leaving little room for execution slippage.

For investors who want the theme with less whipsaw, the QTUM ETF remains the steadier vehicle, with a holdings-weighted P/E of 28.34x and an expense ratio of 0.4%. The trade-off is that big pure-play spikes get diluted by the basket.

The pure plays (QBTS, IONQ, RGTI, QUBT) offer the sharpest upside on deal news but also the steepest drawdowns given the lack of profits and rich multiples. Position sizing matters, and any allocation should reflect that these remain speculative names tied to a long-duration technology thesis. Watch whether today's gains hold into the close and for follow-through headlines out of the D-Wave/Nasdaq Verafin partnership.

This article is for informational purposes only and does not constitute investment advice.