TLDR
- D-Wave Quantum stock was up about 5% in Wednesday premarket trading near $18.47.
- CGI and D-Wave announced a strategic partnership covering logistics, transportation and retail.
- CGI will integrate D-Wave’s Advantage2 quantum computer and hybrid solvers into its technology services.
- D-Wave reported first-half bookings of $35.5 million, up more than 1,120% year over year.
- The main risk remains valuation and cash burn, with second-quarter revenue still only $3.1 million.
D-Wave Quantum (QBTS) stock jumped about 5% in Wednesday premarket trading to roughly $18.47. The move followed the announcement of a strategic partnership with global IT services company CGI.
The agreement will bring D-Wave’s quantum computing technology into CGI’s services portfolio. The companies plan to target practical optimization problems across transportation, logistics and retail.
CGI will use D-Wave’s Advantage2 annealing quantum computer and hybrid solvers. The partnership builds on more than a year of work between the two companies.
CGI Opens Another Enterprise Route for D-Wave
Potential transportation applications include train scheduling, rail-network operations and resource allocation. Retail uses could include supply-chain planning, delivery routing and workforce scheduling.
The companies are also targeting industrial production planning, energy-grid optimization and asset maintenance. These are areas where D-Wave argues quantum annealing can complement classical computing.
That commercial focus is important because D-Wave is already trying to prove that quantum computing can solve real-world optimization problems today. Its technology differs from many quantum rivals focused mainly on longer-term gate-model machines.
D-Wave has previously highlighted work with AT&T where its technology reduced one network optimization workload from roughly one hour to under 15 seconds.
The CGI agreement could give D-Wave access to a much wider enterprise customer base. CGI employs roughly 94,000 professionals and maintains alliances with more than 150 technology companies.
D-Wave’s bookings have already accelerated. First-half 2026 bookings reached $35.5 million, up more than 1,120% year over year.
Remaining performance obligations reached $40.7 million, up 668% from a year earlier. More than 100 customers generated revenue during the first half.
Valuation and Cash Burn Remain the Big Risks
Revenue is still small compared with D-Wave’s valuation. Second-quarter revenue was just $3.1 million, essentially unchanged from a year earlier.
The company also recorded a $53.3 million operating loss during the quarter. Research and development spending alone reached $28.2 million.
D-Wave does have substantial funding available. It ended June with about $546 million in liquidity and recently finalized an agreement for up to $100 million from the U.S. Department of Commerce.
Still, continued losses mean future financing and dilution remain risks. Investors also need D-Wave to convert rapidly rising bookings into sustained revenue growth.
The CGI deal strengthens the company’s enterprise-commercialization story, but it does not disclose guaranteed revenue or contract value. The next test is whether partnerships like this translate into larger recurring customer deployments.
