D-Wave signs a $10M, two-year enterprise QCaaS agreement with a Fortune 100 company
On 2026-01-27, at its Qubits 2026 conference, D-Wave Quantum announced a $10 million, two-year enterprise Quantum-Computing-as-a-Service (QCaaS) agreement with an undisclosed Fortune 100 company, under which the parties plan to develop and deploy several quantum-powered applications. CEO Alan Baratz characterized it as a milestone in annealing enterprise adoption. Disclosed via Form 8-K (Item 7.01) and press.
A $10M, multi-year QCaaS contract with a Fortune 100 enterprise is one of D-Wave's larger named commercial agreements and concrete evidence of production-grade annealing adoption beyond pilots, a mid-band commercial win; the customer's identity is undisclosed.
Multi-year enterprise QCaaS contracts convert D-Wave's >100-customer base into recurring revenue and support the commercialization narrative behind its rich balance sheet; scaling such deals is what would close the cash-versus-revenue gap.