The B.C.-founded quantum computing firm reported US$2.3 million in revenue in the fourth quarter of 2024, down 21 per cent year over year. But it booked US$18.3 million of orders, a jump from US$3 million the previous year. (The Logic)
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The B.C.-founded quantum computing firm reported US$2.3 million in revenue in the fourth quarter of 2024, down 21 per cent year over year. But it booked US$18.3 million of orders, a jump from US$3 million the previous year. (The Logic)
Talking point: D-Wave is still losing a lot of money, and its customer base was almost flat last year. But the firm has US$300 million in cash on its balance sheet after capitalizing on a surge in quantum stock prices late last year. On Wednesday, D-Wave announced what it billed as a major breakthrough for the field: Its Advantage2 system ran a simulation that could be used to find new magnetic materials faster than any classical computer could. It’s the first time a firm has displayed this kind of quantum advantage on an actually useful problem, although some scientists have questioned the significance of the result. D-Wave’s stock rose as much as 19.4 per cent in Thursday trading.
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