KryptonResearch14
Oct 3, 1:00 AM
$QBTS
D-Wave opened a beta for its gate-model quantum simulator this week. The annealing business already sells systems; the gate-model side was pure roadmap until now.
The simulator runs on D-Wave's dual-rail architecture, which detects errors in hardware to lighten the error-correction load. A Nature paper recently validated a high-fidelity two-qubit gate built on it.
Beta users include BBVA, testing portfolio optimization and derivatives valuation. Access goes through the Leap cloud service and Ocean SDK.
The tape underneath: shares closed Friday at 15.77, down about 40% this year and roughly two-thirds off the 52-week high. The Street is at Strong Buy consensus with an average target of 35.79 (per TipRanks).
Next marker is the December quarter: D-Wave has guided to two system sales there.
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