<p>D-Wave Quantum Inc. NYSE: QBTS 是一群较小量子计算公司中的领导者之一，这些公司正在与像微软公司（Microsoft Corp. NASDAQ: MSFT）和谷歌母公司（Alphabet Inc. NASDAQ: GOOG）这样的传统科技巨头竞争。量子计算行业旨在利用量子力学开发能够在多个数量级上超越最佳超级计算机的计算机。开发这项技术的动力非常强大，正如今年多个大型科技公司在量子计算芯片设计方面宣布的关键基准所证明的那样。</p>
<p>像 D-Wave 这样的较小参与者在与微软及其同类公司在研发方面竞争时面临着巨大的挑战，因为这些公司在芯片设计和测试方面可用的资金差距巨大。因此，D-Wave 在 3 月 12 日宣布其实现了量子霸权的突破性演示时，显得尤为令人印象深刻——它声称这是迄今为止唯一的这一成就的例子。</p>
<p>获取 <strong>D-Wave Quantum</strong> 的提醒：</p>
<h2><strong>什么是量子霸权，它对 D-Wave 有何意义？</strong></h2>
<p>量子霸权通常指的是量子计算机能够解决一个复杂问题，而即使是领先的传统超级计算机也无法解决。在 D-Wave 的成就中，该公司的 Advantage2 原型退火量子计算机与 Frontier 超级计算机进行对比，试图解决磁性材料模拟问题。</p>
<p>D-Wave 宣布其计算机在几分钟内解决了该问题，而超级计算机则需要接近一百万年的时间和大量电力才能完成相同的任务。</p>
<p>D-Wave 的成就是科学上的首次，也是在竞争激烈的量子计算行业中的一个里程碑成就。这也使得该公司的 Advantage 系统在市场上越来越具吸引力；在上个季度，D-Wave 实现了创纪录的季度订单额 1830 万美元，部分原因是它完成了向德国 Jülich 超级计算中心的 Advantage 系统的首次销售。在 3 月的第四季度财报电话会议上，管理层宣布公司有显著的额外兴趣。</p>
<h2><strong>投资者应该押注 D-Wave 在量子计算中的未来吗？</strong></h2>
<p>量子霸权是一项了不起的成就，使 D-Wave 成为领先的量子计算公司。然而，许多分析师预计，量子计算机的广泛商业应用仍需许多年。这意味着 D-Wave 和该行业的其他小型公司缺乏广泛的客户基础，因此尚未盈利。</p>
<p>D-Wave 最近一个季度的订单，以及 2024 财年 GAAP 毛利润同比增长 20% 达到 560 万美元，突显了其强大的商业吸引力——即使在推出商业产品之前。然而，其客户基础极为小众：公司宣布在 2024 财年总共有 135 个客户，涵盖研究机构、政府和商业客户。年度净亏损扩大至 1.439 亿美元。另一方面，截至 2024 年底，D-Wave 拥有约 3 亿美元的现金可用，公司声称这将为其实现持续盈利提供充足的资金。</p>
<h2><strong>谨慎提示</strong></h2>
<p>毫不奇怪，QBTS 股价因量子霸权成就和 D-Wave 的财报而飙升。截至 2025 年 3 月 18 日，过去五天内股价上涨超过 91%，过去一年上涨约 360%。即使在突破性消息之后的快速反弹之前，D-Wave 的估值似乎也过高，尤其是在股价超过 10 美元之后。特别是，其市销率高达 328.3。</p>
<p>对于具有适当长期视角的投资者来说，D-Wave 目前的价格可能是合理的，但在公司实现持续盈利之前，股价可能更有可能回调一些涨幅。投资者在进入 D-Wave 之前应仔细考虑他们的时间范围，尽管最近的量子霸权消息对公司来说无疑是令人振奋的。</p>
<p>如果价格重置确实发生，这可能为大多数量子计算领域的投资者提供一个更具吸引力的机会，以进入新头寸或扩大现有头寸。</p>
<h2>你现在应该投资 1,000 美元在 D-Wave Quantum 吗？</h2>
<p>在考虑 D-Wave Quantum 之前，你需要听听这个。</p>
<p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐在更广泛市场注意到之前立即购买……而 D-Wave Quantum 并不在名单上。</p>
<p>虽然 D-Wave Quantum 目前在分析师中获得了买入评级，但顶级分析师认为这五只股票更值得购买。</p>
<p>在这里查看这五只股票</p>

QBTS

<p>D-Wave Quantum Inc. 实现了量子霸权，超越了传统超级计算机，这提升了其市场竞争力，并导致创纪录的 1830 万美元订单。尽管取得了这一成功，分析师警告称，广泛的商业应用仍需数年时间，该公司仍处于亏损状态，净亏损为 1.439 亿美元。D-Wave 的股票最近上涨超过 91%，但其高市销率表明可能被高估。投资者在投资前应考虑其长期策略，因为价格调整可能为量子计算领域提供更好的入场机会</p>

<p>D-Wave Quantum Inc. NYSE: QBTS is one of the leaders among a pool of smaller quantum computing companies competing against legacy tech giants like Microsoft Corp. NASDAQ: MSFT and Alphabet Inc. NASDAQ: GOOG. The quantum computing industry seeks to utilize quantum mechanics to develop computers capable of outperforming even the best supercomputers by many orders of magnitude. The incentive to develop this technology is incredibly powerful, as evidenced by multiple announcements from major tech firms of critical benchmarks in quantum computing chip design just this year.</p>
<div class="lb-trans"><p>D-Wave Quantum Inc. NYSE: QBTS 是一群较小量子计算公司中的领导者之一，这些公司正在与像微软公司（Microsoft Corp. NASDAQ: MSFT）和谷歌母公司（Alphabet Inc. NASDAQ: GOOG）这样的传统科技巨头竞争。量子计算行业旨在利用量子力学开发能够在多个数量级上超越最佳超级计算机的计算机。开发这项技术的动力非常强大，正如今年多个大型科技公司在量子计算芯片设计方面宣布的关键基准所证明的那样。</p>
</div><p>Smaller players like D-Wave face an uphill battle when competing against Microsoft and their ilk on the research and development front, given the massive disparity in funds these companies have available to put toward chip design and testing. So it was all the more impressive when, on March 12, D-Wave announced that it had achieved a breakthrough demonstration of quantum supremacy—and it claimed to be the first and only example of this feat to take place so far.</p>
<div class="lb-trans"><p>像 D-Wave 这样的较小参与者在与微软及其同类公司在研发方面竞争时面临着巨大的挑战，因为这些公司在芯片设计和测试方面可用的资金差距巨大。因此，D-Wave 在 3 月 12 日宣布其实现了量子霸权的突破性演示时，显得尤为令人印象深刻——它声称这是迄今为止唯一的这一成就的例子。</p>
</div><p>Get <strong>D-Wave Quantum</strong> alerts:</p>
<div class="lb-trans"><p>获取 <strong>D-Wave Quantum</strong> 的提醒：</p>
</div><h2><strong>What Is Quantum Supremacy, and What Does It Mean for D-Wave?</strong></h2>
<div class="lb-trans"><h2><strong>什么是量子霸权，它对 D-Wave 有何意义？</strong></h2>
</div><p>Quantum supremacy traditionally refers to the theoretical case in which a quantum computer can solve a complex problem that not even leading traditional supercomputers can solve. In the case of D-Wave's accomplishment, the company's Advantage2 prototype annealing quantum computer was put up against the Frontier supercomputer in an attempt to solve magnetic materials simulation problems.</p>
<div class="lb-trans"><p>量子霸权通常指的是量子计算机能够解决一个复杂问题，而即使是领先的传统超级计算机也无法解决。在 D-Wave 的成就中，该公司的 Advantage2 原型退火量子计算机与 Frontier 超级计算机进行对比，试图解决磁性材料模拟问题。</p>
</div><p>D-Wave announced that its computer solved the problem in minutes, while the supercomputer would take close to a million years and massive amounts of electricity to do the same.</p>
<div class="lb-trans"><p>D-Wave 宣布其计算机在几分钟内解决了该问题，而超级计算机则需要接近一百万年的时间和大量电力才能完成相同的任务。</p>
</div><p>D-Wave's achievement is a scientific first and a landmark accomplishment in the highly competitive quantum computing industry. It also makes the company's Advantage system increasingly marketable; in the last quarter, D-Wave achieved record quarterly bookings of $18.3 million in part because it closed the first sale of the Advantage system to Germany's Jülich supercomputing center. In the fourth-quarter earnings call in March, executives announced that the company has significant additional interest.</p>
<div class="lb-trans"><p>D-Wave 的成就是科学上的首次，也是在竞争激烈的量子计算行业中的一个里程碑成就。这也使得该公司的 Advantage 系统在市场上越来越具吸引力；在上个季度，D-Wave 实现了创纪录的季度订单额 1830 万美元，部分原因是它完成了向德国 Jülich 超级计算中心的 Advantage 系统的首次销售。在 3 月的第四季度财报电话会议上，管理层宣布公司有显著的额外兴趣。</p>
</div><h2><strong>Should Investors Bet on D-Wave’s Future in Quantum Computing?</strong></h2>
<div class="lb-trans"><h2><strong>投资者应该押注 D-Wave 在量子计算中的未来吗？</strong></h2>
</div><p>Quantum supremacy is a remarkable feat that has established D-Wave as a leading quantum computing company. However, many analysts expect that the widespread commercial application of quantum computers is still many years away. This means that D-Wave and other smaller firms in this industry lack a broad customer base and are thus not yet profitable.</p>
<div class="lb-trans"><p>量子霸权是一项了不起的成就，使 D-Wave 成为领先的量子计算公司。然而，许多分析师预计，量子计算机的广泛商业应用仍需许多年。这意味着 D-Wave 和该行业的其他小型公司缺乏广泛的客户基础，因此尚未盈利。</p>
</div><p>D-Wave's latest quarter bookings, along with a 20% YOY increase in GAAP gross profit to $5.6 million for fiscal 2024, highlight its strong commercial appeal—even before launching a commercial product. However, its customer base is extremely niche: the company announced that it had a total of just 135 customers in fiscal 2024, made up of a mix of research institutions, government, and commercial customers. Net losses for the year widened to $143.9 million. On the other hand, D-Wave has some $300 million in cash available to it as of the end of 2024, which the company asserts should give it ample bandwidth in its efforts to reach sustained profitability.</p>
<div class="lb-trans"><p>D-Wave 最近一个季度的订单，以及 2024 财年 GAAP 毛利润同比增长 20% 达到 560 万美元，突显了其强大的商业吸引力——即使在推出商业产品之前。然而，其客户基础极为小众：公司宣布在 2024 财年总共有 135 个客户，涵盖研究机构、政府和商业客户。年度净亏损扩大至 1.439 亿美元。另一方面，截至 2024 年底，D-Wave 拥有约 3 亿美元的现金可用，公司声称这将为其实现持续盈利提供充足的资金。</p>
</div><h2><strong>A Word of Caution</strong></h2>
<div class="lb-trans"><h2><strong>谨慎提示</strong></h2>
</div><p>Unsurprisingly, QBTS shares spiked based on news of the quantum supremacy feat and after D-Wave's earnings report. As of March 18, 2025, they are up more than 91% in the last five days and about 360% in the last year. D-Wave appeared overvalued even before the rapid rally following the groundbreaking news, especially after shares surged past $10. In particular, its P/S ratio is a whopping 328.3.</p>
<div class="lb-trans"><p>毫不奇怪，QBTS 股价因量子霸权成就和 D-Wave 的财报而飙升。截至 2025 年 3 月 18 日，过去五天内股价上涨超过 91%，过去一年上涨约 360%。即使在突破性消息之后的快速反弹之前，D-Wave 的估值似乎也过高，尤其是在股价超过 10 美元之后。特别是，其市销率高达 328.3。</p>
</div><p>Investors with a suitably long-term view may find that D-Wave is affordably priced for now, but the stock may be more likely to give up some of these gains before the company achieves consistent profitability. Investors should carefully consider their time horizon before jumping in on D-Wave, though the recent quantum supremacy news is thrilling for the company nonetheless.</p>
<div class="lb-trans"><p>对于具有适当长期视角的投资者来说，D-Wave 目前的价格可能是合理的，但在公司实现持续盈利之前，股价可能更有可能回调一些涨幅。投资者在进入 D-Wave 之前应仔细考虑他们的时间范围，尽管最近的量子霸权消息对公司来说无疑是令人振奋的。</p>
</div><p>If and when a price reset does take place, it may present an even more compelling opportunity for most investors in the quantum computing space to enter a new position or expand an existing one.</p>
<div class="lb-trans"><p>如果价格重置确实发生，这可能为大多数量子计算领域的投资者提供一个更具吸引力的机会，以进入新头寸或扩大现有头寸。</p>
</div><h2>Should You Invest $1,000 in D-Wave Quantum Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1,000 美元在 D-Wave Quantum 吗？</h2>
</div><p>Before you consider D-Wave Quantum, you'll want to hear this.</p>
<div class="lb-trans"><p>在考虑 D-Wave Quantum 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and D-Wave Quantum wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 每天跟踪华尔街顶级评级和表现最佳的研究分析师及其推荐的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐在更广泛市场注意到之前立即购买……而 D-Wave Quantum 并不在名单上。</p>
</div><p>While D-Wave Quantum currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 D-Wave Quantum 目前在分析师中获得了买入评级，但顶级分析师认为这五只股票更值得购买。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>在这里查看这五只股票</p>
</div>

D-Wave 和量子霸权：对投资者的意义