D-Wave Quantum shares surge 21.79% after-hours after securing $20M university contract and relocating HQ to Florida, boosting growth prospects.

D-Wave Quantum surged 21.79% in after-hours trading following a series of strategic announcements and contract wins. The stock’s rally was driven by the company securing a $20 million agreement with Florida Atlantic University to deploy its Advantage2 quantum computer and a $10 million enterprise cloud contract with a Fortune 100 firm, announced on January 27. These deals, alongside its acquisition of Quantum Circuits Inc. for $550 million to establish a dual-platform quantum computing strategy, signaled growing commercial traction. Additionally, D-Wave announced advancements in gate-model and annealing technologies, reinforcing its market position. The news coincided with analyst upgrades, including "Buy" ratings from Needham and Rosenblatt, and the relocation of its headquarters to Florida’s Boca Raton Innovation Campus, further validating its operational expansion. These developments collectively boosted investor confidence in the stock’s long-term potential.