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News articleSeeking Alpha· July 28, 2026

D-Wave Quantum dips 10%, moderating previous day's rally

View original at seekingalpha.com
D-Wave Quantum dips 10%, moderating previous day's rally [Artificial Intelligence, concept CPU - quantum computing] MF3d/E+ via Getty Images D-Wave Quantum (QBTS [https://seekingalpha.com/symbol/QBTS]) shares fell approximately 10% on Tuesday, pulling back after a 20% surge the previous session…
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  • QBTS trades at a stretched 171x price-to-sales multiple versus peers, with projected 2026 revenue near $35 million and a fair value estimate of $9.50 per share, implying roughly 40% downside from current levels, citing a delayed technology roadmap and D-Wave's reliance on SkyWare amid IonQ's pending acquisition of that supplier.

    60% confidence

  • D-Wave now offers quantum-as-a-service rather than requiring customers to purchase machines outright, though annealing addresses a specific subset of optimization problems.

    60% confidence

  • Their original 3-to-5-year investment thesis on D-Wave may need to extend to 7-to-10 years before quantum computing achieves meaningful commercial traction.

    60% confidence

  • Questioned the substance of the AT&T announcement, noting that no contract value or timeline was disclosed.

    60% confidence

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Pharma Pipeline Catalysts and M&A Heat Up as AI-Designed Drugs Enter the Clinic
Late-September 2026 brought a dense run of clinical readouts: Novo Nordisk's CagriSema data at EASD, Lilly's ADtouch results for EBGLYSS, and Merck's tulisokibart Phase 2b result. Lilly's $2.9B Merida Biosciences acquisition and the 2026-11-14 FDA PDUFA date for ivonescimab sit alongside these as the main deal and regulatory events. AI-designed drugs such as rentosertib, and speculative AI-linked trial ventures such as QAIAx, are moving from hype toward clinical validation. Broader AI-sector regulatory and legal friction (Tesla Cybercab probe, xAI Minnesota ruling, OpenAI lawsuits) shows rising scrutiny that could spill into AI-driven healthcare.
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EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
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ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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