Tangent · Theme: quantum computing · 2026-10-08 · outside the module spine

Quantum Computing

Created Oct 8, 2026 · Latest reported quarter, ended Jun 30, 2026 (Q2): IONQ, RGTI, QBTS, QUBT, QNT, XNDU, INFQ. IQMX, PSQL, HQ and the large companies in Tier B are not covered with filings-based figures.

You asked about the five names on your watchlist — Xanadu (XNDU), IonQ (IONQ), Quantinuum (QNT), Rigetti (RGTI) and D-Wave (QBTS) — with room for more. I added Quantum Computing Inc. (QUBT) and Infleqtion (INFQ) as full profiles, three newer listings (IQM, Pasqal, Horizon Quantum) as short unprofiled lines, and the large companies that run quantum programs. Two of your five did not exist as public tickers before 2026: Xanadu listed on March 27 and Quantinuum on June 4. All seven profiled names also fell between 3% and 10% on October 8 (your screenshot shows five of them); I found no sourced cause, so I give none.

Label vs. substance: "quantum stock" covers five technologies and several kinds of revenue D-Wave built its business on quantum annealers, which solve optimization problems and are not general-purpose gate-model computers. It bought Quantum Circuits in January 2026 to add a gate-model program. IonQ is turning into a conglomerate: besides trapped-ion computers it has acquired networking and key-distribution (ID Quantique), sensing (Vector Atomic, announced), chip design (Oxford Ionics) and, on July 31, 2026, a semiconductor foundry (SkyWater). I did not see a revenue split by product line in the parts of its Q2 release I read, so its $80M should not be assumed to be all computing revenue. Quantum Computing Inc. describes itself as a photonics and semiconductor manufacturing company; Infleqtion sells neutral-atom computers alongside clocks, RF receivers and inertial sensors and does not split revenue between them. Quantinuum is the closest of the seven to a computing-only business by its product list, but I did not see a segment split either.

Share structure also matters. Quantinuum is an "Up-C": Class B shares carry votes but no economic rights and are paired one-to-one with common units of the operating company, so only 36.1M Class A shares are outstanding against the 263M shares (Class A plus Class B) behind the vendor market cap, and its Q2 loss attributable to Quantinuum Inc. ($65.4M) is a fraction of the as-converted loss ($596.5M). Xanadu has two classes (251.6M multiple-voting Class A, 52.7M subordinate-voting Class B). This is the same cross-holding caution as Module 0003's BN/BAM.

What "good" means in this field

A conventional bit is 0 or 1; a qubit can be in a superposition, and qubits can be entangled, which lets some problems be solved with far fewer steps. The catch is that qubits are fragile. The whole industry is therefore a race on a few measurable things, and the vocabulary below is what separates a real milestone from a headline.

Physical vs. logical qubits. A physical qubit is the hardware element; a logical qubit is built from many physical ones with error correction. Quantinuum's prospectus describes Helios as 98 physical qubits and 48 logical qubits; IBM's published target is 200 logical qubits by 2029 (its Starling system). Logical counts are the number that matters for useful work.
Two-qubit gate fidelity. The success rate of the basic entangling operation. Every extra "nine" is a large reduction in errors. Company claims: Quantinuum Helios 99.921%; IonQ 99.99% (achieved in 2025, per its Q2 release); Rigetti ~99.1% median on its 108-qubit chip and 99.6% on 36 qubits.
Below-threshold error correction. Adding qubits to an error-correcting code reduces, rather than increases, the error rate. Google reported this on its 105-qubit Willow chip on December 9, 2024.
"Advantage." A useful problem solved faster or cheaper than any classical method. IBM's technology page now states that advantage was delivered in 2026; treat that as a company claim, not an independently validated result.
Qubit counts are not comparable across approaches. D-Wave's annealers quote thousands of qubits that do different work than 98 trapped ions. Compare fidelity, connectivity and logical-qubit demonstrations instead.

Approach	Who	Strength	Main obstacle
Superconducting circuits	IBM, Google, Rigetti, Amazon (cat qubits), D-Wave's new gate-model line	Very fast gates (Rigetti cites ~60 ns); chip-fabrication know-how	Operates near absolute zero; wiring and cooling scale poorly; limited connectivity
Trapped ions	IonQ, Quantinuum	Highest reported gate fidelities; any qubit can interact with any other	Slower gates; controlling and moving many ions as machines grow
Neutral atoms	Infleqtion, Pasqal, QuEra, Atom Computing	Large, reconfigurable arrays	Gate speed and error rates; atom loss mid-computation
Photonic	Xanadu, PsiQuantum, Quantum Computing Inc.	Chip and fibre based; natural fit for networking; less cooling	Photon loss; gates are probabilistic
Annealing	D-Wave	A commercial product today for optimization problems	Not a general-purpose computer; speed-up claims are contested
Topological	Microsoft	Potentially far fewer errors per qubit	Unproven at scale; I did not verify the current status

The approach table is general industry framing, not sourced cell by cell.

The universe, in tiers

Tier A — listed pure-plays, profiled (filings read). Exchange from Yahoo Finance metadata.

Company	Listing	Approach	How it funds itself	What the revenue is
IonQ IONQ	NYSE	Trapped ion, plus acquired networking, sensing, chips and a foundry	Equity and stock-funded acquisitions: Oxford Ionics ($1.075B, $1.065B of it in stock, closed Sept 2025); SkyWater ($35/share, $15 cash plus $20 in IonQ stock, about $1.8B, closed Jul 31, 2026)	Cloud and system sales plus acquired businesses; no product-line split seen in the Q2 release
Quantinuum QNT	Nasdaq	Trapped ion (Helios)	IPO Jun 4, 2026: 28.0M Class A shares at $60, $1.68B gross; Honeywell holds about 47.8% of the voting power; Up-C structure	System sales and cloud access; heavily concentrated: RIKEN was 60% of 2025 revenue, 63% of 2024 (prospectus)
Rigetti RGTI	Nasdaq	Superconducting	Public equity; a $35M Quanta Computer private placement in 2025; Commerce letter of intent for up to $100M with an equity issue	Public-sector contracts are a significant portion of revenue (10-Q)
D-Wave QBTS	Nasdaq	Annealing, plus gate-model via Quantum Circuits	Public equity; $550M Quantum Circuits deal closed Jan 20, 2026 ($252.8M net cash paid per the cash-flow statement, the rest in stock); Commerce LOI of $100M	Cloud access and system sales; first-half bookings $35.5M, but Q2 bookings only $2.1M
Xanadu XNDU (XNDU.TO in C$)	Nasdaq and TSX	Photonic (Aurora)	De-SPAC with Crane Harbor, first traded Mar 27, 2026; Yorkville standby equity facility of up to $300M (May 2026), $67.2M drawn in Q2	Research contracts; the company attributes the year-over-year increase to DARPA Stage B work
Quantum Computing Inc. QUBT	Nasdaq	Photonics, photonic chip foundry, optimization machines (Dirac-3)	Cash and investments of $1.32B at Jun 30 (how it was raised is not traced here); three 2026 acquisitions used about $180M of cash in H1	Product and foundry sales; contract backlog $42.5M
Infleqtion INFQ	NYSE	Neutral atom, plus sensing and clocks	Listed Feb 2026 (first trade Feb 17 in the data I pulled); Commerce LOI of $100M	Includes government contracts; no computing vs. sensing split

Tier A2 — other recent listings, not profiled. Press reports and one data vendor only; I did not read their filings.

Company	What it is	Listing (press reports)	Market cap, Oct 8, 2026 (vendor)	Other (vendor)
IQM IQMX	Finnish superconducting hardware maker	Nasdaq ADSs from Jul 2, 2026 via a SPAC with Real Asset Acquisition Corp; also on Nasdaq Helsinki	$1.88B	TTM revenue $39.0M; cash $135.8M
Pasqal PSQL	French neutral-atom company	Nasdaq from Aug 28, 2026 after a SPAC merger with Bleichroeder Acquisition Corp. II	$1.51B	No financials on the vendor page
Horizon Quantum HQ	Singapore quantum software	Nasdaq from Mar 20, 2026 via dMY Squared	$0.85B	Cash $113.3M; revenue effectively nil

Tier B — large companies with quantum programs. Quantum is not separable in their reporting, so I computed nothing for them. Statements are company claims or press reports as of the dates shown.

Company	Approach and latest public milestone I found	Financial link
IBM IBM	Superconducting. Nighthawk is 120 qubits; Starling (200 logical qubits, 100 million gates) is targeted for 2029; its technology page claims advantage was delivered in 2026.	A $1B Commerce letter of intent (May 21, 2026) to set up a quantum foundry subsidiary, with the Department taking an equity stake in the company; IBM stated in Feb 2025 that cumulative quantum business was approaching $1B (reported).
Alphabet GOOGL	Superconducting. Willow, 105 qubits, below-threshold error correction (Dec 9, 2024).	Not reported separately.
Microsoft MSFT	Topological. Majorana 1 announced Feb 2025; Microsoft and PsiQuantum are in the final phase of DARPA's related US2QC pilot.	Not reported separately.
Amazon AMZN	Cat-qubit prototype chip, Ocelot (Feb 2025). I found no 2026 update.	Not reported separately.
Nvidia NVDA	Not a quantum hardware maker. NVQLink (Oct 2025) links quantum processors to GPU systems; the enabler angle.	Not reported separately.
Honeywell HON	Parent of Quantinuum. About 47.8% of the combined voting power after the IPO, with board-nomination rights.	How Honeywell accounts for Quantinuum: not checked.

Private and not listed. PsiQuantum (photonic; $100M Commerce LOI; DARPA US2QC final phase), Atom Computing (neutral atom; $100M Commerce LOI; DARPA QBI Stage B), QuEra, Diraq and others. No public market access yet.

Q2 2026 scorecard: what each company reports

Company (US$ M)	Revenue, Q2 2026 (vs. Q2 2025)	Operating loss, GAAP	Adjusted loss (company's own definition)	GAAP net loss	Note
IonQ	80.1 (+287% vs. 20.7)	−337.2	−120.3 adj. EBITDA (−95.6 excluding SkyWater-related spend)	−1,867.7	$1,649M of the net loss is a non-cash loss on the fair value of warrant liabilities. FY2026 revenue guide $280–290M, excluding SkyWater.
Quantinuum	8.0 (+279% vs. 2.1)	Not comparable (one-time IPO charge)	−68.3 adj. EBITDA (vs. −43.5)	−596.5 as-converted; −65.4 attributable to Quantinuum Inc.	$464.6M equity-compensation and payroll-tax charge. First-half revenue fell to $13.2M from $21.2M. FY2026 guide $28–32M.
Rigetti	5.1 (+185% vs. 1.8)	−28.1 (as reported in press copy of the release; 10-Q shows operating expenses of 30.3)	Not given; non-GAAP net loss −16.0	−52.6	No debt. Net loss exceeds operating loss, so non-operating items cost money this quarter; I did not itemise them.
D-Wave	3.1 (flat vs. 3.1)	About −53 (derived: operating expenses 55.0 less gross profit of about 1.7)	−37.1 adj. EBITDA	−48.0	Gross margin 55.4% (63.8% a year ago). Net loss is narrower than operating loss because of non-operating items I did not itemise.
Quantum Computing Inc.	5.6 (vs. 0.06)	−23.0	Not given	−11.8	Gross loss of 1.2. Net loss is about half the operating loss because of non-operating items I did not itemise.
Xanadu	1.5 (+43% vs. 1.1)	About −30 (revenue less total operating expenses of 31.5)	−21.3 adj. EBITDA	−42.1	Down from 2.8 in Q1. No numeric guidance yet; spending guidance promised later this summer.
Infleqtion	13.5, revised up from 12.6 (+157% vs. 5.3)	−29.9	About −16.2 non-GAAP operating loss (press summary)	−24.7	The revision moves revenue between periods for two government contracts; the company says it is non-cash and immaterial. FY2026 guide about $45.1M.

Comparability caveat: GAAP net loss is not a usable cross-company number here IonQ's $1.87B loss is dominated by a warrant revaluation, Quantinuum's by IPO equity compensation and by Up-C attribution, and D-Wave's and Quantum Computing Inc.'s by non-operating items. "Adjusted" measures also differ (adjusted EBITDA for four, a non-GAAP operating loss for Infleqtion, nothing at all for Rigetti and Quantum Computing Inc.). Compare each name with its own prior quarters, and use operating loss or the company's adjusted loss as the burn indicator. Revenue is also lumpy and timing-sensitive (Quantinuum's first half fell year over year; Infleqtion restated its quarter), so a single quarter's growth rate says little.

Cash, runway and valuation snapshot

These companies are valued against cash and a revenue run-rate, not earnings. Market cap is the vendor figure at about 3:13 pm ET on Oct 8, 2026; cash is the company-reported total of cash and all investments at June 30. I computed enterprise value myself (market cap less company cash, plus vendor debt).

Company	Market cap, Oct 8, 2026 (US$B)	Cash & investments, Jun 30, 2026 (US$B)	Market cap ÷ cash	EV (my calc, US$B)	EV ÷ Q2 revenue × 4	EV ÷ FY2026 guided revenue	Cash ÷ Q2 loss × 4 (years)
IonQ	15.5	2.0 pro forma (3.0 before SkyWater)	7.7x	13.5	42x	47x (midpoint, excludes SkyWater)	4.2
Quantinuum	10.9	2.1	5.2x	8.8	276x	294x (midpoint)	7.7
D-Wave	5.3	0.55	9.8x	4.8	390x	—	3.7
Rigetti	4.6	0.54	8.6x	4.1	199x	—	4.8†
Infleqtion	2.5	0.58	4.3x	1.9	36x	43x	9.0
Quantum Computing Inc.	1.7	1.32	1.3x	0.36	16x	—	14.4†
Xanadu	1.2	0.31	4.0x	1.0	163x	—	3.7

† Uses GAAP operating loss, because the company does not report an adjusted loss in the release I read; this overstates burn, so the runway is conservative. Other rows use the company's adjusted loss. Runway is illustrative: it holds the Q2 loss flat and ignores capital spending and acquisitions (IonQ's SkyWater deal took about $1B of cash; Quantum Computing Inc. used about $180M in H1). Infleqtion's loss figure is from a press summary of its release.

Vendor "total cash" leaves out long-term investments The data vendor's cash line for Rigetti ($393.7M), Quantum Computing Inc. ($954M) and Infleqtion ($477M) excludes non-current investments, which the filings put at $147.6M, $369M and $104.8M. On company figures, Rigetti's cash and investments are $541M, Quantum Computing Inc.'s $1,323M and Infleqtion's $582M. The vendor's enterprise value for Quantum Computing Inc. ($732M) is therefore about twice the roughly $360M implied by the filing: the company's market cap is only about 1.3 times its cash. Same lesson as LR-0007: rebuild the denominator before trusting a vendor ratio.

Relative performance: from the 2025 peak and since listing

Stock	Price, Oct 8 (~3:13 pm ET)	Oct 8 vs. Oct 7 close	Peak close (date)	Oct 7 close vs. peak	1 year to Oct 7	Since first close (date)
IONQ	$38.93	−5.8%	$82.09 (Oct 13, 2025)	−49.6%	−47.8%	+333% ($9.55, Oct 8, 2024)
RGTI	$13.88	−4.9%	$56.34 (Oct 15, 2025)	−74.1%	−66.8%	+1,773% ($0.78, Oct 8, 2024)
QBTS	$14.35	−5.7%	$44.78 (Oct 15, 2025)	−66.0%	−57.4%	+1,562% ($0.92, Oct 8, 2024)
QUBT	$7.35	−3.5%	$25.68 (Dec 18, 2024)	−70.3%	−65.4%	+958% ($0.72, Oct 8, 2024)
QNT	$41.40	−6.4%	$83.17 (Jul 6, 2026)	−46.8%	n/a (listed Jun 4, 2026)	−26.3% vs. the $60 IPO price
XNDU	$4.07 (C$5.78 on the TSX)	−9.5%	$36.12 (May 1, 2026)	−87.6%	n/a (listed Mar 27, 2026)	−61.0% ($11.50, Mar 27, 2026)
INFQ	$11.05	−5.1%	$19.87 (Jun 2, 2026)	−41.4%	n/a (listed Feb 2026)	−25.3% ($15.59, Feb 17, 2026)

Price return, Yahoo Finance daily closes (no dividends are paid, so this equals total return). Peak and return columns run to the Oct 7, 2026 close; the Oct 8 price is intraday, from the data vendor. Peaks are daily closes, not intraday highs.

A shared peak, then a long fall. IonQ, Rigetti and D-Wave all peaked within three trading days of each other in mid-October 2025, and each is now 50–74% below that close. Quantum Computing Inc. peaked earlier (December 2024).
Two-year returns are still very large. From the October 2024 start of this data, Rigetti is up roughly 19-fold and D-Wave roughly 17-fold. A drawdown figure and a since-start figure answer different questions, and the starting point decides which story the number tells.
Every 2026 listing is below its first close. Quantinuum (−26% from its IPO price), Xanadu (−61% from its first post-merger close, −88% from its May peak) and Infleqtion (−25%). The Xanadu history that Yahoo shows before March 27 is the SPAC's trading, not the operating company's, so I measured from the first post-merger close.
All ten listed pure-plays I checked were down on Oct 8 (the seven above, plus IQM −4.2%, Pasqal −2.1% and Horizon −2.6%, per the vendor). I found no sourced explanation.

Deep dive: Washington becomes a shareholder

Settled facts. On May 21, 2026 the Department of Commerce announced nine letters of intent worth $2.013B in CHIPS and Science Act incentives, per the NIST release. The planned amounts: IBM $1B (to set up a quantum foundry subsidiary focused on superconducting wafers), GlobalFoundries $375M (a quantum foundry), and $100M each for Atom Computing, D-Wave, Infleqtion, PsiQuantum and Quantinuum, up to $100M for Rigetti, and up to $38M for Diraq. As a condition of the funding, the Department receives a minority, non-controlling equity stake in each company. These are letters of intent, not final awards. IonQ, Quantum Computing Inc. and Xanadu are not among the nine.

Rigetti's own filing shows the mechanics: $100M over three years; shares issued to the Department in an amount consistent with the award; the issue price set at the lowest closing price among May 5, May 20 and the award date, less 15%; no milestones specified in the 8-K; dilution listed as a risk.

Current status (as of Oct 8, 2026; will date quickly). Press reports say definitive agreements were signed for D-Wave, Rigetti and Quantinuum around September 8, and one outlet reports that Rigetti will issue about 7.74M shares at roughly $12.92, which would be about 2.3% of its 333.8M shares. I could not confirm either from a filing. Rigetti closed up about 31% on May 21 ($22.04 vs. $16.88 the day before) but was back to $15.81 by September 8, below its pre-announcement close, so the stock gave back the whole move.

Why it matters for the comparison. It is validation and funding for scale-up, but also dilution priced at a discount, milestone-based cash (so not all of it is available up front), and a new dependence on policy. It also splits the group: four of the seven profiled names (Quantinuum, D-Wave, Rigetti, Infleqtion) are in the package; IonQ, with the largest cash pile before SkyWater, is not.

How the group behaves across environments

One factor trades the whole group. On January 7, 2025, Nvidia's CEO said useful quantum computers were 15 to 30 years away, with about 20 the most believable; the next day Rigetti closed down about 40%, IonQ about 37% and D-Wave more than 30% (press-reported). Rigetti and D-Wave had risen 1,449% and 854% over the prior year after Google's Willow announcement. On Oct 8, 2026, all ten listed names I checked fell together.
Narrative and policy catalysts dominate quarterly results. The biggest moves in this note came from a remark, a chip announcement and a government letter of intent, not from earnings.
Funding follows the share price. High prices produced large raises and cash piles (Quantum Computing Inc. $1.32B; IonQ $3.0B before SkyWater). Xanadu sold shares at an average net $12.28 in Q2 and trades at $4.07. Shares issued at lower prices dilute more, and the cash pile does not shrink only from operating losses: acquisitions are a second drain.
Revenue is lumpy and concentrated. Quantinuum's customer RIKEN was 90% of its revenue in Q1 2025 and 7% in Q1 2026, while another government-affiliated research institution was 47% of Q1 2026 and the U.S. government 24%. D-Wave's bookings were $35.5M in the first half but $2.1M in Q2.
Interest-rate and risk-appetite sensitivity: untested. These are long-duration, loss-making assets, so a link to rates and risk appetite is plausible, but I did not test it.

Relative positioning: a checklist to weigh against your own view

Technical path and timeline. Which approach, and how close is its evidence (logical qubits, fidelity at scale) to a claim you can check?
Runway and dilution route. Years of cash at the current burn, and how the next dollar is raised (at-the-market facility, government equity, stock-funded deals, a new offering).
Revenue quality. Government and research customers vs. commercial; recurring cloud vs. lumpy system sales; concentration in one buyer.
Business purity. How much of reported revenue is actually quantum computing (the label-vs-substance issue above).
Structure. Dual-class, Up-C or parent-controlled, which changes both float and governance.
Government alignment. Third-party validation of the roadmap and non-dilutive money, against the dilution that comes with it.
Integration risk. Acquisition-heavy models (IonQ, D-Wave, Quantum Computing Inc.) carry execution risk beyond the science.

Company	Approach	DARPA QBI Stage B (list dated Nov 6, 2025)	Commerce CHIPS letter of intent (May 21, 2026)	Route to public markets
IonQ	Trapped ion	Yes	No	Public equity; stock-funded deals
Quantinuum	Trapped ion	Yes	Yes, $100M	IPO, Jun 2026
Rigetti	Superconducting	Not on the list	Yes, up to $100M	Public equity
D-Wave	Annealing and gate-model	Not on the list	Yes, $100M	Public equity; stock-funded deal
Xanadu	Photonic	Yes	Not among the nine	De-SPAC; standby equity facility
Quantum Computing Inc.	Photonic and foundry	Not on the list	Not among the nine	Public equity
Infleqtion	Neutral atom and sensing	Not on the list	Yes, $100M	De-SPAC
IBM	Superconducting	Yes	Yes, $1B (foundry subsidiary)	Already public; quantum not separately reported

Stage B is a year-long phase; DARPA's page lists no Stage C selections. The companies on the Stage B list are Atom Computing, Diraq, IBM, IonQ, Nord Quantique, Photonic Inc., Quantinuum, Quantum Motion, QuEra, Silicon Quantum Computing and Xanadu.

Where this connects to the curriculum

Module 0016 (Mega-Cap Tech: NVDA, MSFT) and Module 0021 (Digital Platforms: GOOGL): the Tier B programs. When those modules are built, this note's Nvidia, Microsoft and Alphabet rows are the starting point for the quantum question.
Module 0009 (Canadian Technology): Xanadu is TSX-listed in Canadian dollars (and on Nasdaq) but is not in the TSX 60 or in that module's current five names.
Module 0017 (Semiconductors): SkyWater (now part of IonQ) and GlobalFoundries (a $375M Commerce foundry letter) are the foundry link between this theme and chips.
Not in the roadmap rows I checked: IBM, Amazon and Honeywell.
Standing caveats: Honeywell and Quantinuum extend Module 0003's cross-holding caution (parent-controlled, Up-C). The vendor-cash finding extends LR-0007.

What I could not verify

IQM, Pasqal and Horizon: listing details are press reports and figures are the vendor's. I did not read any of their filings.
The September finalization of the Commerce agreements, Rigetti's share count and price (about 7.74M shares at about $12.92), and Quantinuum's exact equity terms. The May letters of intent are from NIST; later steps are press reports. NIST says each company gives equity, but Quantinuum's own 8-K gives no funding amount.
Quantinuum's Q2 bookings. Its 8-K does not disclose them, so I used none. Press figures differ.
Honeywell's economic (as opposed to voting) interest in Quantinuum. The 47.8% figure is voting power from the final prospectus, as relayed by a search tool.
Rigetti's $28.1M operating loss and Infleqtion's $16.2M non-GAAP operating loss come from press copies or summaries of the releases; I read Rigetti's 10-Q for revenue, operating expenses and cash.
Xanadu's expected SPAC proceeds (about $302M, with a $275M PIPE) are from press summaries. D-Wave's $300M stock and $250M cash split is from press; the 8-K shows $252.8M of net cash paid.
IonQ's other acquisitions: ID Quantique and Lightsynq are reported complete; Vector Atomic ($250M) was announced; I did not confirm the closing of Capella or Qubitekk.
All technical figures (fidelity, qubit counts, "advantage") are company claims. IBM's quantum-business figure is a reported 2025 statement; I did not read the Tier B companies' own results.
Why every name fell on Oct 8, and any link to interest rates: not established.
Prices are intraday vendor quotes at about 3:13 pm ET on Oct 8; returns run to the Oct 7 close.

Sources

Company releases and filings (SEC EDGAR): IonQ Q2 2026 release; D-Wave Q2 2026 release; Quantinuum Q2 2026 release; Quantinuum 424B4 prospectus; Quantum Computing Inc. Q2 2026 release; Xanadu Q2 2026 release (6-K); Infleqtion Q2 2026 release (8-K/A); Rigetti 10-Q, Q2 2026; Rigetti 8-K on the Commerce letter of intent; Rigetti Q2 2026 release as published by The Quantum Insider.
Government: NIST/Commerce release on the nine quantum letters of intent, May 21, 2026; DARPA QBI Stage B selection.
Technology: IBM quantum technology page; Google on Willow.
Market data: stockanalysis.com statistics pages (ticker-by-ticker, Oct 8, 2026, ~3:07–3:15 pm ET); Yahoo Finance daily closes, Oct 2024 to Oct 8, 2026; your Apple Stocks screenshot (Oct 8, 3:12 pm).
Press and secondary: CNBC via NBC on the Jan 2025 sell-off; The Next Web on the Commerce package; DCD on the IQM listing; Xanadu listing; The Quantum Insider on D-Wave's Quantum Circuits close; Oxford Ionics deal record.