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D-Wave Quantum's share price has surged 76% in the past 3 months and over 500% in the past year. The company is now valued at $28.44 with a price-to-book ratio of 14.8x, which is significantly higher than the US Software industry average and similar names. While investors are optimistic about the company's growth potential, risks remain, including ongoing losses and potential delays in commercial quantum adoption.

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