D-Wave Spikes 11% on Nasdaq Verafin Deal, IonQ Gains 9% After SkyWater Buyout, Rigetti Rises 7%

David Moadel

Mon, August 3, 2026 at 7:34 PM GMT+3 4 min read

Quick Read

D-Wave surged 11% on a Nasdaq Verafin fraud-detection deal while IonQ jumped 9% after closing its $1.8B SkyWater buyout.
The QTUM quantum-computing ETF's diversified basket carries a 28x P/E and is up 29% YTD, offering steadier quantum exposure than pure plays like QUBT.
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Quantum computing stocks are ripping higher at midday Monday, powered by two real deal catalysts and a firm broader tape. D-Wave Quantum (NYSE:QBTS) shares lead the group, up 11% to $20.08 on a new Nasdaq Verafin collaboration, while IonQ (NYSE:IONQ) stock jumped 9% to $39.62 after closing its SkyWater Technology buyout.

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The broader tape is helping. The NASDAQ 100 is up 1.52% as investors digest easing Middle East tension after President Trump called off strikes on Iran. That risk-on backdrop is amplifying the sector's deal-driven bid.

D-Wave Leads on Nasdaq Verafin Deal

D-Wave and Nasdaq Verafin, the exchange operator's financial-crime-technology unit, announced an agreement 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 the potential to expand to pilot applications, so this is early-stage collaboration rather than a signed revenue contract.

D-Wave Quantum CEO Alan Baratz called it an opportunity to explore quantum computing's potential for the financial sector. D-Wave stock had been under pressure heading in, down 31% year to date (YTD) through Friday's close, so today's 11% intraday pop is a meaningful rebound for holders.

IonQ Closes SkyWater Acquisition

IonQ closed its approximately $1.8 billion acquisition of SkyWater Technology after U.S. Federal Trade Commission clearance. Under the terms, 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.

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The pitch is vertical integration. IonQ is framing the deal as building a vertically integrated U.S. quantum supply chain and accelerating fault-tolerant quantum development. IonQ stock carries a trailing 12-months (TTM) P/E ratio of 101.45x, so the multiple leaves little room for execution slippage even as retail enthusiasm runs hot on r/wallstreetbets, where sentiment scores held in the 78 to 88 range through the weekend.

Rigetti and Quantum Computing Ride the Wave

Rigetti Computing (NASDAQ:RGTI) shares are up 9% to $16.23, and Quantum Computing (NASDAQ:QUBT) shares are up 8% to $8.74. Neither has an obvious company-specific catalyst today. Both are riding the sector's risk-on bid, and both had been beaten down heading in.

The context matters here. Rigetti stock came into Monday down 33% YTD and Quantum Computing shares were down 21% YTD, which sets the stage for sharp sympathy moves when deal news reignites the theme. Both remain unprofitable on a trailing 12-month basis with no TTM P/E ratio, so position sizing should stay modest.

QTUM ETF Offers a Steadier Angle

The Defiance Quantum ETF (NASDAQ:QTUM) is up a more restrained 3% to $145.45. That gap reflects the fund's diversified basket construction, which spreads exposure across quantum-adjacent computing names rather than concentrating in the pure plays.

The ETF carries a holdings-weighted P/E ratio of 28.34x, far more moderate than IonQ's triple-digit multiple, and an expense ratio of 0.4%. The ETF is up 31% YTD, which is why thematic investors often use QTUM shares as a lower-volatility way to own the trend. The trade-off is that big pure-play spikes get diluted by the basket.

What to Watch

Investors can watch for whether today's gains hold into the close and for follow-through headlines out of the D-Wave/Nasdaq Verafin partnership. IonQ's next Q2 FY2026 earnings report is the next hard catalyst. Sector momentum can turn on a single deal print, so keep an eye on the tape.

For traders, 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 the rich multiples. Position sizing matters, and any allocation should reflect that these remain speculative names tied to a long-duration technology thesis.

For investors who want the theme with less whipsaw, the QTUM ETF remains the steadier vehicle. The bottom line: you can let the pure plays run if you own them, but consider trimming into strength rather than chasing, and use QTUM to build core exposure at more reasonable valuations.