Just days before it holds its Q2 earnings call on Aug. 7, D-Wave Quantum Inc. (QBTS) has rolled out a new open-source toolkit that lets developers plug quantum computers into AI projects. It is part of the company’s Ocean software suite and connects directly with PyTorch, a widely used tool for building machine learning models. The kit can train restricted Boltzmann machines, which are used in tasks like image generation, pattern spotting, and drug discovery.
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This launch comes during a big year for QBTS shares. The stock is up more than 104% since January, driven by growing interest in quantum computing and hopes for wider use in real-world work.
Why It Matters
The goal is to make it simple for developers to try using D-Wave’s quantum processors for AI work. Early tests look promising, too. Japan Tobacco (JAPAF) used the tech to speed up AI training for drug research. Also, the Jülich Supercomputing Centre boosted accuracy in predicting protein-DNA binding by mixing quantum computing with support vector machines. Lastly, TRIUMF, Canada’s particle accelerator center, saw faster results in physics simulations that could help produce synthetic data for experiments.
D-Wave’s rally and technological progress haven’t gone unnoticed by the Street’s analysts. Analysts are optimistic. Four analysts have issued Buy ratings on QBTS stock in the past week. Among them is top analyst Ruben Roy from Stifel Nicolaus with a $26 price target and over 50% upside. He sees D-Wave as “a pioneering quantum computing company” as well as the first to deliver commercial quantum annealing systems.
Is QBTS a Good Stock to Buy?
On the Street, D-Wave boasts a Strong Buy consensus rating. The average price target is $19.50, pointing to a 13.5% upside from the current price.
