D-Wave Quantum Just Announced an Expanded Deal. Should You Buy the Stock Now?

Shares of D-Wave Quantum (QBTS -9.05%) jumped Monday morning on the announcement that AT&T (T +1.35%) is expanding its use of the company's quantum computing technology across its network operations. This is excellent news in a rough year for D-Wave's stock, which is down more than 26% in 2026. So should investors buy D-Wave Quantum's stock now? ExpandNASDAQ: QBTSD-Wave QuantumToday's Change(-9.05%) $-1.77Current Price$17.75Key Data PointsMarket Cap$7.2BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Day's Range$17.27 - $18.8952wk Range$12.75 - $46.75Volume712KAvg Vol30.8MGross Margin32.92% This new agreement with AT&T expands on a pilot program that demonstrated D-Wave's annealing quantum computing cut processing time for a network optimization workload by 240x, from approximately one hour to 15 seconds. Ultimately, this result with AT&T could catalyze D-Wave as other companies take notice of the real-world results from the pilot program. The quantum computing industry as a whole could use a boost, having largely lost investor enthusiasm this year after a 2025 run-up. Image source: The Motley Fool. D-Wave's stock is still highly speculative and volatile. The commercial applicability of quantum commuting is largely unknown and untested. This nod of credibility from AT&T should help. Investors in D-Wave need to proceed with patience and caution, however, as the company has relatively little revenue compared to its losses. On the positive side, D-Wave has more than $42 million in remaining performance obligations (RPO), a 563% year-over-year increase. The AT&T deal, paired with this jump in RPOs, could signal real traction for D-Wave's technology. With the stock down significantly in 2026, risk-tolerant long-term investors willing to tolerate continued volatility may see the AT&T deal as the cue to climb aboard. Read NextJul 27, 2026 •By Joe TenebrusoWhy D-Wave Quantum Stock Surged TodayJul 27, 2026 •By Howard SmithStock Market Today, July 27: D-Wave Surges on Nasdaq Debut and Expanded AT&T DealJul 22, 2026 •By Anders BylundWhich Quantum Computing Stocks Get the Most Government Funding – and Does it Matter?Jul 21, 2026 •By Justin PopeIs D-Wave Quantum a Millionaire-Maker Stock?Jul 19, 2026 •By Scott Levine3 Best Tech Stocks to Buy in 2026 and How to InvestJul 19, 2026 •By Robert IzquierdoD-Wave Quantum's CEO Sold Over 50,000 Company Shares. Here's What That Means for Investors.About the AuthorCatie Hogan is a contributing stock analyst and personal finance expert at The Motley Fool. She's the founder of the family finances newsletter, Cents of Humor. Previously, Catie was the Head of Advice & Coaching at Parthean, an Associate Financial Planner at Element Financial Group, and a Financial Advisor at Edward Jones. She holds a bachelor's degree in journalism from Emerson College, a master's degree from University of Nevada Las Vegas, and a Certificate in Financial Planning from Bryant University.TMFCatieHoganStocks MentionedD-Wave QuantumNASDAQ: QBTS$17.67(-9.43%)-$1.84Motley Fool Stock Advisor’s Latest PickGet Access---% Avg ReturnAT&TNYSE: T$24.75(+1.33%)+$0.33*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.