D-Wave Quantum shares surge 109% in two months as Nvidia announces quantum AI models and U.S. Department of Commerce awards $100 million in federal funding to the company.

D-Wave Quantum (QBTS) stock is up 109% in the last two months. The company's market cap is now over $11 billion, while its financials show $12.5 million in sales over the last 12 months and a normalized loss of more than $100 million during the same period.

Nvidia announced Ising, a new family of open-source AI models designed to accelerate quantum computing research. The U.S. Department of Commerce launched a $2 billion quantum investment program, with D-Wave receiving $100 million in federal funding.

The stock trades near $30, but the article's author argues that despite the catalysts, commercial quantum computing remains many years—possibly decades—away, and significant market corrections could cause investors to abandon speculative stocks like D-Wave.