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How QUBT's Fab Strategy Could Unlock Commercial-Scale Quantum Adoption

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Key Takeaways

  • QUBT's Fab 1 is operational in Tempe, producing small-batch TFLN photonic chips for early customers.
  • QUBT plans Fab 2 as a high-volume facility over three years to enable cost-effective scaling.
  • Together, Fab 1 cuts manufacturing risk while Fab 2 supports scaling, as QUBT adds staff to boost readiness.

Quantum Computing Inc. (QUBT - Free Report) or QCi has developed Fab 1 and Fab 2 as a phased manufacturing strategy designed to transition from early production to full-scale commercialization. Over time, these strengths may lead to improved economic performance and a more distinct competitive position compared with peers that continue to rely on the limitations of third-party manufacturing.

Fab 1, located in Tempe, AZ, is a small-scale thin-film lithium niobate (TFLN) photonics foundry. It is already operational and focuses on stabilizing production processes and ramping small-batch manufacturing to fulfill early customer orders across datacom, telecom, advanced sensing and quantum computing markets. The foundry serves customers seeking U.S.-based manufacturing of high-performance photonic chips, while laying the groundwork to supply critical components for QCi's proprietary quantum computing machines. In contrast, Fab 2 is planned as a high-volume manufacturing facility to be developed over the next three years. Fab 2 will serve as the cornerstone for large-scale production. 

Together, Fab 1 reduces technical and manufacturing risk, while Fab 2 enables cost-effective scaling and positions QCi for widespread commercial adoption of its quantum and photonic technologies.  As this manufacturing strategy progresses, the company is scaling its workforce to match operational needs. Over the past quarter, key technical and operations personnel have been added to strengthen execution and manufacturing readiness.

Peer Update

D-Wave Quantum (QBTS - Free Report) has transitioned its latest Advantage2 annealing platform from an early-access preview to general commercial availability, representing an important milestone in its commercialization efforts. QBTS’ system features over 4,400 qubits, improved connectivity, extended coherence and greater energy efficiency. In parallel, D-Wave Quantum is advancing its hybrid solutions that integrate quantum annealing with classical computing, targeting real-world applications, including logistics optimization, AI-driven decision support and sophisticated financial modeling.

Rigetti Computing (RGTI - Free Report) recognizes limits in its current manufacturing setup. Its 150 mm Fremont fabrication facility is adequate for research, development and incremental improvements through about 2027. Yet, it may not be capable of supporting the level of precision needed for fully commercial quantum systems. To achieve very high-performance targets, such as gate fidelities above 99.9% and large-scale quantum computing, RGTI sees a modern fab improving qubit consistency, fidelity gains and long-term differentiation. RGTI is assessing options that include foundry partnerships, participation in government programs, or the construction of a 200-300 mm fabrication facility.

QUBT’s Price Performance

In the past year, QUBT’s shares have gained 11.9%, underperforming the industry’s 0.2% decline. The S&P 500 composite has grown 19.3% in the same period.

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Expensive Valuation

QUBT currently trades at a forward 12-month Price-to-Sales (P/S) of 855.74X compared with the industry average of 5.55X.

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QUBT Stock Estimate Trend

Over the past 30 days, its loss per share estimate for 2025 has narrowed 4 cents to 15 cents.

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QUBT stock currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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