On July 29, D-Wave Quantum Inc. declined 5.13% in regular trading, trading at $16.665/share, with turnover of $80.55 million. The decline marks a second consecutive session of losses following the company's announcement of an expanded quantum computing partnership with AT&T.

On July 27, D-Wave Quantum surged as much as 18% intraday after announcing an expanded agreement with AT&T to deploy its quantum annealing technology for network operations optimization. However, gains narrowed sharply to just 3.4% by close. The following session saw the stock drop over 6%, with selling pressure continuing into today's session as profit-taking extended.

Under the partnership, AT&T has demonstrated the ability to reduce network task processing time from approximately one hour to under 15 seconds using D-Wave's technology. Benchmark initiated coverage with a Buy rating and a $30 price target, citing improving commercial viability of quantum computing. Despite these positive catalysts, the stock had previously declined for five consecutive weeks with a year-to-date loss exceeding 35%, creating significant profit-taking incentive on any rally.

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