Rigetti Soars 17%, D-Wave Up 17% as IonQ Raises Guidance to “An Industry Record”
Rigetti Computing (RGTI) and D-Wave Quantum (QBTS) each rose 17% after IonQ raised its 2026 revenue guidance to $505-515M. Rigetti's Q2 revenue was $5.1M, with analysts expecting $23.3M for 2023 and $83.4M by 2028. D-Wave's revenue nearly tripled to $24.6M in fiscal 2025, with estimates at $42.5M for 2023 and $148M by 2028. Both companies report earnings on Nov. 10.
How this was made
The 30-second read
Why it matters
IonQ’s raised 2026 revenue guidance and backlog expansion act as a demand signal for the quantum hardware supply chain, but the trade’s durability depends on each peer’s own near-term order and acceptance execution.
Market read
A guidance upgrade at IonQ is the fresh catalyst, driving same-day sympathy in quantum peers, with near-term execution risk centered on Nov. 10 reporting.
What to watch
Rigetti’s India system acceptance is booked only upon installation and acceptance, so schedule slips could delay revenue recognition even if demand exists; D-Wave’s quarter must validate the order-growth path implied by estimates.
Background
The article frames today’s 17% moves in Rigetti and D-Wave as sympathy to IonQ’s post-close guidance raise, while emphasizing that both peers report on Nov. 10.
Ticker impact
Rigetti shares jumped 17% after IonQ raised 2026 revenue guidance, with Rigetti needing order momentum ahead of its Nov. 10 report.
Positive momentum likely persists into the next session, then becomes more binary around Rigetti’s Nov. 10 results and any evidence of system acceptance/order timing.
The article ties today’s surge to IonQ’s guidance and highlights Rigetti’s small current revenue plus a key India system acceptance risk that could swing estimates.
D-Wave rose 17% alongside Rigetti after IonQ lifted 2026 guidance, with D-Wave’s revenue linked to an IonQ multi-year manufacturing agreement extended through SkyWater.
Upward bias likely near-term, but volatility expected if Nov. 10 results do not confirm the order ramp implied by Street expectations.
The article explicitly frames D-Wave as an IonQ customer and flags that the Nov. 10 quarter must support the order-growth assumptions.
IonQ beat estimates and raised 2026 revenue guidance to $505-515 million, calling it an “industry record,” driving the quantum peer read-across.
Likely continued positive repricing as the market digests the raised 2026 revenue range and backlog expansion.
The article provides the fresh guidance range, the beat context, and the stated backlog and acquisition contribution, making it the direct driver of the peer moves.
Market effects
Reinforces investor willingness to pay up for quantum system revenue visibility, potentially lifting valuations for quantum hardware peers via read-across.
No specific regional macro linkage; impact is primarily within US-listed quantum equities.
Guidance upgrade may affect global sentiment toward quantum commercialization timelines and customer spending confidence.
Counterpoint
Peer rallies may be overstated because Rigetti’s current revenue base is tiny and D-Wave’s results still depend on order timing and acceptance, not just IonQ’s guidance.
Key entities
- companyIonQ
Raised 2026 revenue guidance to $505-515 million after a strong quarter, calling it an “industry record.”
- companyRigetti Computing
Jumped 17% on IonQ read-across; needs order/revenue progress into its Nov. 10 report, with India system acceptance timing risk.
- companyD-Wave Quantum
Up 17% as an IonQ customer under an extended manufacturing agreement; must show order growth by its Nov. 10 report.
