In Q2 2026, 45 institutions accumulated $144.2M in D-Wave Quantum (QBTS) while 21 reduced holdings by $41.6M, a net bullish cluster. Major buyers included JPMorgan, T. Rowe Price, and Citadel, all doubling positions.
SEALSQ announced that its QS7001 secure element passed all physical and functional security tests for Common Criteria EAL5+ certification, completing the technical evaluation phase. The certification process now moves to final site audits and administrative steps, with formal certification…
Institutional activity in IonQ during Q3 2026 was mixed: three small asset managers added modest positions totaling $724K, while two larger institutions—including the Fourth Swedish National Pension Fund—sold off nearly all their holdings, reducing positions by $5.9M. The cluster is dominated by small-dollar additions from wealth managers and a near-exit by a major sovereign fund, suggesting institutional caution ahead of the company's massive $1.99B equity offering and pending $1.15B Elisity acquisition.
IonQ priced a public offering of 20.5M common shares, 29.5M pre-funded warrants (exercise price $0.0001), and 100M Series C warrants (exercise price $69.46) at a combined price of $40.00 per unit. The offering is expected to close on October 16, 2026, and the underwriters have a 60-day lock-up on certain shareholders. This is a highly dilutive capital raise that will significantly increase the share count and create substantial warrant overhang.
SEALSQ Corp reported preliminary 9M 2026 revenue of $16.3 million, up 65% YoY from $9.9 million, and reaffirmed FY 2026 revenue guidance of $27M-$36M (50-100% growth). Cash stood at ~$463 million. The filing also highlighted VaultIC408 achieving NIST FIPS 140-3 Level 3 validation and a post-quantum pipeline of >$200 million through 2029. While the revenue growth is strong, the implied Q4 range ($11M-$20M) is wide and the post-quantum revenue contribution is pushed to 2027+, tempering near-term conviction.
SEALSQ reported preliminary 9M 2026 revenue of $16.3M (+65% YoY) and reaffirmed FY 2026 guidance of $27M-$36M (50-100% growth), implying Q4 revenue of $11M-$20M. The company holds ~$463M in cash and highlighted a $200M+ pipeline through 2029, including >$100M in post-quantum projects. Despite strong top-line growth, the stock has historically underperformed following bullish reports on this ticker, warranting caution.
SEALSQ Corp (LAES) disclosed via Form 6-K that it, along with WISeQey Corp, has entered into a definitive business combination agreement with SPAC GigCapital8 Corp. (GIW) and Quantisimo Holdings Corp. (PubCo). Under the agreement, Quantisimo Corp. — a special-purpose vehicle holding interests in Miraex SA, SEALCOIN AG, WeCan Group SA, and WISeSat.Space — will merge with the SPAC, with PubCo becoming the Nasdaq-listed holding company. The transaction implies a pro forma equity value for Quantisimo of approximately $666.1 million at $10.00 per share, with SEALSQ and WISeQey receiving 66,610,000 PubCo shares and expected to hold a majority of PubCo's outstanding ordinary shares post-closing.
IonQ is raising approximately $1.99 billion in net proceeds through a public offering of 20.5M shares of common stock, 100M Series C Warrants (exercise price $69.46), and 29.5M pre-funded warrants (exercise price $0.0001), all at a combined price of $40.00 per unit. The offering is priced at a 15.2% premium to the last closing price of $34.73, and the net proceeds will be used for working capital, general corporate purposes, and potential strategic acquisitions. The massive dilution—20.5M new shares (5% of pre-offering outstanding) plus potential 129.5M additional shares upon warrant exercise—is bearish for existing shareholders.
IonQ filed a 424B5 prospectus supplement for a massive equity offering: 20.5M shares of common stock, 100M Series C Warrants (strike $69.46), and 29.5M pre-funded warrants, raising ~$1.99B in gross proceeds. The offering is priced at $40.00 per share-plus-warrant unit, a ~15% premium to the prior close of $34.73. Net proceeds of ~$1.988B will fund working capital, strategic acquisitions (including the pending $1.15B Elisity acquisition), and general corporate purposes. The massive dilution — 20.5M new shares (5% of pre-offering float) plus 129.5M potential shares from warrants — is bearish for existing holders, though the capital raise provides a substantial cash runway for a pre-profit quantum computing company.
IonQ (IONQ) has entered into a definitive agreement to acquire Elisity, a Zero Trust security company, in an all-stock transaction valued at up to $1.3 billion, including $1.15 billion in upfront consideration and up to $150 million in earnout based on revenue milestones. The deal pairs IonQ's post-quantum cryptography and quantum key distribution capabilities with Elisity's enterprise Zero Trust platform, targeting the $10B+ microsegmentation market. Elisity brings a high-growth recurring revenue business with year-over-year revenue doubling and zero customer churn. The transaction is expected to close in Q4 2026.
Arqit Quantum reported preliminary FY2026 revenue of $975K-$1M (up from $530K in FY2025), but H2 revenue fell to ~$355K-$380K from $463K YoY due to a Middle East contract cessation. Cash stands at ~$51M. A post-period NATO contract win provides a catalyst, but the H2 revenue decline and reliance on preliminary, unaudited results temper the outlook.
SEALSQ announced that its VaultIC408 secure element achieved FIPS 140-3 Level 3 validation (NIST Certificate No. 5463, active through August 4, 2031). The certification opens the door to government, defense, and critical-infrastructure procurement programs that require independently validated hardware security, and the company also provided a roadmap for its QS7001 post-quantum secure element targeting Common Criteria EAL5+ certification in 2027. No financial figures or revenue guidance were disclosed.
SEALSQ Corp reported H1 2026 unaudited results showing net sales of $11.15M, up 131% YoY from $4.83M, driven by the new ASIC segment (ICAlps acquisition) and organic semiconductor growth. However, the net loss widened to $27.7M from $20.0M as operating expenses surged 64% to $37.6M. The company raised $125M in a March 2026 registered direct offering, ending the period with $480M in cash. Two acquisitions closed on June 1, 2026: Miraex SA (photonic quantum tech) and a controlling stake in Wecan Group (blockchain data exchange).
SEALSQ reported H1 2026 revenue of $11.2M (+131% YoY) and reaffirmed FY2026 guidance of $27M-$36M, but net loss widened to $27.8M from $20.0M as R&D, G&A, and selling expenses surged. The company holds $486.1M in cash, funding aggressive post-quantum R&D and acquisition integration. The strong top-line growth is offset by deepening operating losses, creating a mixed signal for traders.
CEO Subodh Kulkarni and CFO Jeffrey Bertelsen sold a combined $2.26M in RGTI stock over a 7-day window, with the CEO's sale ($1.88M) occurring just one day after the company announced a $100M CHIPS Act award. The CEO also exercised 300,000 options at de minimis cost, but the open-market sale of 120,000 shares at $15.68 represents material monetization. The cluster represents 0.04% of the $5.1B market cap, falling below the 0.1% proportionality threshold for materiality, but the timing—immediately following a major government contract—raises signaling concerns.
Rigetti Computing's subsidiary signed a definitive $100M CHIPS Act award agreement with the U.S. Department of Commerce to accelerate superconducting quantum computing R&D. The company issued 7,739,938 shares of common stock to the Department at an implied price of $12.92/share as inducement. The award provides $43.9M upfront with milestone-based tranches of $29.9M and $26.2M, but imposes extensive compliance, IP, and national security restrictions that limit strategic flexibility.
D-Wave Quantum Inc. finalized a definitive Other Transaction Agreement (OTA) with the U.S. Department of Commerce for up to $100 million in CHIPS and Science Act funding to accelerate R&D for annealing and gate-model quantum computers. The initial tranche of $53.6 million is available immediately, with additional tranches tied to milestone achievements. In connection with the award, D-Wave will issue 7,095,721 shares of common stock at $14.093/share to the Department, representing a minority, non-controlling equity stake that is dilutive to existing shareholders and carries transfer restrictions and registration rights.
IonQ issued a press release raising its full-year 2026 revenue guidance to $450M-$460M, following its acquisition of SkyWater Technology. The guidance includes SkyWater contributions from July 31, 2026 onward and eliminates intercompany revenue. This is a material upward revision that demonstrates immediate financial scale from the acquisition, though it is forward-looking guidance rather than reported results.
Three C-suite executives at Rigetti Computing (CFO, CTO, COO) sold a combined $314K in open-market shares on August 20, 2026, with the CTO also receiving a 750K-share grant. The sales are small relative to the $5.7B market cap (~0.006%), but the cluster of three top officers selling on the same day is notable.
D-Wave announced that NTT DOCOMO, Japan's largest mobile operator, has deployed a second D-Wave-powered quantum computing application in production. The application reduces location registration signals at daily peak by 65.3% and paging signals by 7.0%, demonstrating expanded use of D-Wave's technology for complex network optimization.
SEALSQ Corp filed two 6-Ks on August 14, 2026. The first contains a CEO letter reporting preliminary H1 2026 revenue of ~$11M (120% YoY growth), a $485M cash position, reaffirmed FY 2026 guidance of 50-100% revenue growth, and a series of commercial/partnership developments including a $5M Quobly agreement and a GlobalFoundries MoU. The second filing provides a standalone update on post-quantum certification timelines, pushing QS7001 V1 certification to September 2026 and QVault TPM-183 to late 2026. The batch confirms strong revenue momentum and a well-capitalized balance sheet, but certification delays and the reliance on forward-looking pipeline estimates temper the near-term impact. The cross-filing context (20-F annual report) provides baseline financials for context, and the actuarial verdicts flag this as an amplifier combination (6k-annual-context + 6k-offering-context), supporting a moderately bullish read on the strategic narrative.
D-Wave Q2 2026 revenue of $3.1M missed consensus of $4.0M by 23%, and GAAP EPS of -$0.13 missed the -$0.09 consensus. However, first-half bookings surged 1,120% to $35.5M and RPOs grew 668% to $40.7M, signaling strong future revenue visibility. The company continues to invest heavily in R&D and go-to-market, with cash burn accelerating but liquidity remaining robust at $546M.
IonQ completed its acquisition of SkyWater Technology, the largest U.S.-based semiconductor foundry, on July 31, 2026. The deal creates a vertically integrated quantum platform company, with SkyWater shareholders receiving $15.00 cash and 0.4883 IonQ shares per SkyWater share. The combined company will hold its Q2 earnings call on August 5, 2026, and an investor day on September 8, 2026, marking a significant strategic milestone for IonQ's quantum computing roadmap and domestic supply chain.
D-Wave Quantum Inc. announced that AT&T has signed an agreement to expand its use of D-Wave's annealing quantum computing technology across AT&T's network operations. AT&T plans to layer D-Wave's technology into its agentic AI tools to address complex optimization challenges, building on early work that cut network optimization processing time from approximately one hour to less than 15 seconds. This is a significant commercial validation from a major enterprise (AT&T), but the filing contains no financial terms, revenue figures, or binding commitments, making it a qualitative endorsement rather than a quantifiable catalyst.
Five institutional asset managers added to IonQ positions in Q2 2026, with aggregate holdings rising to $15.0M from $5.3M (net inflow of $9.7M). The buying is broad-based across small and mid-sized active managers, led by Police & Firemen's Retirement System of New Jersey, which nearly doubled its stake to $8.8M. No insider buying corroborates the institutional accumulation, weakening the signal's conviction.
Two insiders at Arqit Quantum (ARQQ) sold a combined $1.10M in open-market sales during a 7-day window, led by Director Lefebvre d'Ovidio Manfredi ($980K sale at $30.24). The total dollar value is ~0.19% of ARQQ's $566M market cap, falling in the modest-to-noteworthy proportionality band. Non-cash derivative exercises by multiple directors and the CRO occurred on July 1 but have zero economic value and do not change the cluster's selling direction.
Director Lefebvre d'Ovidio Manfredi sold ~$1.64M of ARQQ shares over two days, with smaller open-market sales by General Counsel Willcocks ($118K) and Chief Revenue Officer Feenan ($46K). Total insider selling of ~$1.81M (0.32% of market cap) is a modest bearish signal, though the lack of CEO/CFO selling weakens the negative read.
Two Arqit Quantum insiders — a Director and the General Counsel — sold a combined ~$1.1M in open-market transactions over two days, with the Director accounting for ~$981K of that total. The cluster is dominated by a single director's sell, which at ~0.19% of ARQQ's $566M market cap is modest but notable; the CRO's derivative exercises and small adjacent sale are liquidity-driven and non-strategic. The ongoing insider selling pattern (including $1.0M in the prior 30d) at a $566M software company with 86% Street-bullish consensus warrants attention but does not signal imminent distress given the modest absolute and relative size of the sales.
Two Arqit Quantum insiders — a director and the general counsel — sold a combined $1.10M in open-market sales over a 3-day window (June 30–July 1). The director's sales ($980K) dominate the cluster and represent ~0.16% of the $695M market cap, which is modest in proportionality terms. The cluster is entirely sells, with no insider buying to offset, and the director's sales are large enough to warrant attention but not alarming at this proportionality level.
SEALSQ Corp announced via a 6-K that its joint venture Quantisimo Corp. entered a non-binding LOI with SPAC GigCapital8 for a business combination targeting a ~$575M pre-money enterprise value. The deal is non-binding, subject to definitive agreements, due diligence, and regulatory approvals, with expected close in Q1 2027. SEALSQ may contribute selected quantum-related assets to Quantisimo upon completion.
Arqit Quantum resolved all outstanding U.S. securities class actions: a federal court approved a $7 million settlement for the Eastern District of New York case, and the parallel New York state case was voluntarily dismissed. The removal of this litigation overhang removes a key uncertainty for the company.
John M. Markovich, an affiliate of D-Wave Quantum Inc., filed a Form 144 on June 12, 2026, indicating intent to sell 246,043 shares of common stock with an estimated market value of approximately $5.86 million. This filing adds to an ongoing pattern of insider sales; the same insider has sold over 639,000 shares worth roughly $16.6 million since March 2026, including this proposed sale. The repeated selling after option exercises is a bearish signal for the stock.
Three major institutional investors (Vanguard, Fidelity, Morgan Stanley) significantly increased their D-Wave Quantum positions in Q3 2025, adding a combined $674.5M in new holdings. Vanguard alone added $551.5M, bringing its stake to $950.2M. The cluster is dominated by mega-passive managers, which weakens the signal as it may reflect index rebalancing or passive inflows rather than a fundamental thesis.
Three IonQ insiders filed Form 144 notices of intent to sell shares on June 10, 2026. Officer Inder M. Singh plans to sell 6,880 shares of common stock, with a prior sale of 8,134 shares on March 11, 2026, to cover tax withholding on RSU vesting. Directors Paul T. Dacier and Niccolo de Masi also filed Form 144 notices, though the specific share amounts for Dacier and de Masi are not disclosed in the provided documents. The batch filing of three separate 144s on the same day signals coordinated insider selling intent, which is a bearish signal for the warrants (IONQ-WT).
Three Rigetti insiders — including CEO Subodh Kulkarni and two directors — sold a combined ~231K shares worth approximately $4.82M in open-market transactions over a one-week window. CEO Kulkarni's sale of $1.49M at $24.38 and Director Johnson's sale of $2.47M at $21.28 represent significant dollar amounts relative to typical insider activity at this company. Non-cash grants of 9,208 shares to two directors at $0 are compensation awards and carry no economic signal.
John M. Markovich, an affiliate of D-Wave Quantum Inc., filed a Form 144 notice of intent to sell 70 shares of common stock through J.P. Morgan Securities LLC. The shares were acquired via a stock option exercise on May 21, 2025, for services rendered. The filing also lists prior sales by Markovich totaling approximately 392,345 shares between March and June 2026, indicating ongoing insider monetization.
CEO Alan Baratz filed a Form 144 to sell 687,627 shares of D-Wave Quantum Inc. (QBTS), valued at approximately $18.0 million based on the filing date. This represents a significant insider sale, signaling intent to monetize a large equity position following a stock option exercise.
SEALSQ announced its participation as a lead investor in Quobly's €130 million Series A financing, investing via the SEALSQ Quantum Fund. The fund has grown from $20 million to $200 million, with ~$30 million deployed across six other quantum-related investments. This deepens SEALSQ's strategic partnership with Quobly to integrate post-quantum cryptography with silicon-based quantum processors, advancing its Quantum Vertical Sovereign Stack strategy.
D-Wave held its inaugural Investor Day on June 1, 2026, where management disclosed a proposed $100M U.S. CHIPS Act investment in exchange for common stock, announced Q1 2026 bookings of $33.4M (+1,994% YoY), detailed a gate-model quantum computing roadmap through 2032, and reported $588.4M in liquidity post-QCI acquisition. The event served as a broad strategic update with ambitious forward-looking targets but did not include new audited financials or hard earnings releases.
SEALSQ announced a further strategic investment in quantum chip designer EeroQ, committing to serve as lead investor in EeroQ's upcoming priced financing round. The investment comes under SEALSQ's 'Quantum Made in USA' strategy and deepens the existing technology cooperation toward an integrated Quantum Security Vertical Stack.
Arqit Quantum reported H1 FY2026 revenue of $623K (up 830% YoY from $67K) and a net loss of $33.0M (vs $19.4M loss in H1 FY2025), driven by a $12.8M non-cash share-based compensation charge. Cash burn from operations was $25.7M, with cash of $28.9M at period-end (plus $35.9M as of May 20, 2026, reflecting post-period ATM proceeds). The company signed 11 contracts (vs 7 in all of FY2025), including first Encryption Intelligence deal and a partner contract upsized ~90%. Despite revenue growth, losses widened significantly and the company remains pre-scale with a $1M market cap on the warrant ticker.
Rigetti signed a binding letter of intent with the U.S. Department of Commerce for a $100 million CHIPS Act award over three years, with the government receiving newly issued common stock at a 15% discount to the lowest of three reference prices. The funding accelerates superconducting quantum computing R&D and represents a significant non-dilutive-like capital injection, though the final share count and terms depend on future definitive agreements.
Rigetti Computing announced a non-binding LOI with the U.S. Department of Commerce for up to $100M in CHIPS Act funding over three years to accelerate superconducting quantum computing R&D. The Department would receive an equity stake in Rigetti in exchange for the funding. This is a major government validation of Rigetti's technology and provides a significant non-dilutive capital source, though the final terms and dilution impact remain uncertain.
D-Wave Quantum signed a non-binding Letter of Intent for $100 million in proposed CHIPS Act funding from the U.S. Department of Commerce, contingent on executing definitive award documents. The funding would be received in exchange for $100 million in common stock issued to the government, representing a significant government endorsement but with no guaranteed closing and clear dilution risk for existing shareholders.
D-Wave Quantum reported Q1 2026 revenue of $2.9M, down 81% YoY from $15.0M which included a $12.6M system sale, resulting in a GAAP net loss of $0.05/share vs consensus of -$0.10 (a beat). However, record quarterly Bookings of $33.4M (up 1,994% YoY) and RPOs of $42.4M (up 563% YoY) signal strong future revenue visibility, partially offsetting the headline revenue decline. The stock will likely trade on the bookings momentum and the upcoming Investor Day on June 1, 2026, rather than the GAAP revenue miss.
SEALSQ announced the integration of its Quantum Vertical Stack, a fully end-to-end quantum technology ecosystem spanning from silicon-level security to space-based quantum networking, set for launch in Q3 2026. The company highlighted advancements in sovereign root-of-trust architecture, strategic partnerships in quantum computing, and the expansion of its $200M SEALQuantum Fund. This positions SEALSQ as a vertically integrated player in post-quantum security and quantum infrastructure.
SEALSQ announced a major milestone by its portfolio company EeroQ, which demonstrated an autonomous quantum computing lab in collaboration with Conductor Quantum and NVIDIA. The system integrates AI-driven orchestration with live quantum hardware, enabling self-operating experiments via natural language prompts — a significant advancement toward scalable quantum computing.
SEALSQ and its parent company WISeKey subsidiary WISeSat announced their participation in the Space Symposium, unveiling a roadmap for the Quantum Spatial Orbital Cloud (QSOC) platform — a planned 100-satellite constellation offering post-quantum cybersecurity services from space. The first satellite launch is scheduled for June 2026, with initial operations targeted by 2027.
Arqit Quantum Inc. reported preliminary unaudited revenue of $620,000–$630,000 for the first half of fiscal year 2026, a significant increase from $67,000 in the same period of fiscal 2025, driven by contract deliveries and three new contracts. Cash balance stood at $28.9 million as of March 31, 2026.
Arqit announced preliminary unaudited revenue of $620K–$630K for the first half of fiscal 2026, up sharply from $67K in the same period of fiscal 2025, while ending the period with $28.9M in cash. The company has not yet finalized its financials, and results remain subject to material adjustments; a full report and conference call are expected in May 2026.
