Quantum Computing Stocks D-Wave and Rigetti Face Double-Digit Drops Amid Market Shifts

Quantum computing stocks D-Wave Quantum and Rigetti Computing have experienced double-digit share price declines in 2026 amid broader market shifts. As of March 27, D-Wave's stock was down 47% year to date, while Rigetti's shares fell 40%. Despite these declines, both companies maintain strong cash positions on their balance sheets, with D-Wave holding $884.5 million in cash and marketable securities at year-end 2025 and Rigetti reporting $443.5 million in cash and short-term investments. The quantum computing sector, which gained traction in 2025, has faced headwinds in 2026 as Wall Street has moved away from high-valuation tech stocks. D-Wave and Rigetti, both unprofitable, are navigating these challenges with different strategies. D-Wave reported 179% year-over-year sales growth to $24.6 million in 2025 and announced customer bookings of over $30 million in January 2026, a significant increase from $13.4 million in the previous quarter. The company also acquired Quantum Circuits in January, expanding its capabilities in gate-model quantum computing. Rigetti, on the other hand, uses gate-model technology and has a vertically integrated tech stack, allowing for end-to-end execution of quantum computer construction. However, the company's revenue declined 34% to $7.1 million in 2025, and it reported an operating loss of $84.7 million for the year. Despite these challenges, Rigetti secured purchase orders from India and Japan, with the Indian order valued at $8.4 million, exceeding its 2025 revenue. Both companies are positioned to benefit from the long-term potential of quantum computing, which could revolutionize fields like artificial intelligence by processing complex data at unprecedented speeds.