D-Wave Quantum shares surged nearly 100% in a year, driven by strong growth and strategic moves.

Billionaire Israel Englander's Millennium Management bought 2.27 million shares of D-Wave Quantum in late 2024 for $16.4 million. Since then, the stock has seen a volatile ride but gained nearly 100% over the trailing 12 months, reflecting strong revenue growth and major deals, including a $20 million university contract and a $10 million corporate agreement. Despite a recent dip and high volatility, D-Wave's unique position in quantum computing and strategic acquisitions support optimism. Analysts remain mostly bullish with a consensus price target of $35.17, suggesting significant upside ahead, though risks remain due to quarterly losses and cash burn.