Quantum computing has been one of the hottest investment topics in the past two months and three of the leading listed companies in the space are de-SPACs. But, how close is quantum computing to generating real value and what capabilities are still years away?

This week, we speak with Alan Baratz, CEO of D-Wave (NYSE:QBTS), which went public in a business combination with DPCM Capital in 2022. Alan explains how D-Wave’s quantum computers are already doing commercial work and generating revenue by solving complex business optimization problems for clients.

He also gives a primer on what investors should look for in the quantum industry news as they try to parse real progress from incremental research.

How did D-Wave itself emerge from a post-listing capital crunch to announce record bookings in 2024 and start out 2025 with over $300 million in cash on hand?

Give it a listen.