D-Wave Quantum and Rigetti Computing are both racing to establish dominance in one of the most closely watched emerging sectors in technology investing.
D-Wave Quantum (QBTS) specializes in quantum annealing, a method particularly well-suited for solving complex real-world optimization problems at a commercial scale today.
Rigetti Computing (RGTI) takes a different technical approach, focusing on gate-model superconducting processors with ambitions toward universal quantum computing applications.
Both companies are competing in a nascent industry where long-term survival depends heavily on scaling hardware and securing an early foothold before the market matures.
D-Wave delivered strong revenue growth of nearly 178.5% in 2025, though that growth rate has dropped by more than half as 2026 has progressed.
Rigetti has seen its own momentum build, with 2026 first-half revenues reaching $9.5 million compared to just $3.3 million during the same period in 2025.
Despite that impressive revenue jump from Rigetti, analysts point to D-Wave as the stronger investment case heading into the second half of 2026.
A key reason for D-Wave’s edge is its acquisition of Quantum Circuits, which added gate-model architecture to its existing quantum annealing capabilities.
That combination gives D-Wave a more comprehensive quantum computing solution set, opening up a significantly larger addressable market than annealing technology alone could access.
D-Wave announced first-half 2026 bookings of $35.5 million, representing a staggering 1,120% year-over-year increase that signals accelerating commercial demand.
While D-Wave’s stock valuation is currently elevated and near-term revenue growth has softened, the bookings figure strongly suggests sales will accelerate through the remainder of the year.
Rigetti remains a credible competitor, particularly given its focus on high-value government contracts and continued investment in superconducting processor development.
Both companies face the broader challenge facing the entire quantum sector, where profitability remains elusive and investor patience depends on visible technical and commercial progress.
For investors weighing the two, D-Wave’s expanded technology portfolio and explosive bookings growth present a more compelling near-term and long-term investment thesis than Rigetti.
