D-Wave (QBTS) Soars 12% on US-Iran Deal Cheer

D-Wave Quantum Inc. (NYSE:QBTS) is one of the 10 Stocks Stealing the Spotlight from Wall Street Giants.

D-Wave Quantum saw its share prices climb by 12.37 percent on Monday to close at $26.26 apiece, mirroring a wider market optimism, while investors increased their exposure in industries with rosy long-term prospects.

The stock climbed alongside its counterparts, helped primarily by rosy prospects for the sector after the US government last month announced $2 billion in funding support to accelerate the country’s leadership in quantum computing.

Photo by Tima Miroshnichenko on Pexels

D-Wave Quantum Inc. (NYSE:QBTS) was among the nine named beneficiary companies, with a $100 million in funding from the Department of Commerce to help finance its critical advancements in annealing and gate-model superconducting quantum computing systems, including qubit counts, error rates, and coherence through advanced dielectric material optimization, interface control, and high-density advanced packaging.

The government backing was ultimately aimed at supporting the US government’s goal to become the leader in quantum computing.

Additionally, investors positioned their portfolios ahead of the two-day Bank of America Transforming World Conference on Tuesday and Wednesday, June 16 and 17, where investors expect key quantum computing players to announce updates about their businesses and outlooks.

It was unclear, however, whether D-Wave Quantum Inc. (NYSE:QBTS) would participate in the event, albeit its counterparts have already announced participation.

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