D-Wave Quantum Inc. (QBTS) saw an 8.68% drop in share prices on Tuesday due to profit-taking following recent gains. Optimism waned after the Commerce Department denied negotiating with quantum computing firms, despite reports of government interest in investing in the industry.

The Commerce Department clarified it is not in talks with quantum computing companies for equity stakes, contrary to previous reports. There was speculation that quantum firms were seeking $10 million in government funding in exchange for ownership.

D-Wave Quantum Inc. (QBTS) is expected to reveal its third quarter earnings performance in early November. While QBTS shows investment potential, some believe other AI stocks offer greater returns with lower risks. For insights on a cheap AI stock benefiting from Trump tariffs, check out the free report on the best short-term AI stock.

Read more at Yahoo Finance: D-Wave (QBTS) Sheds 8.68% on Profit-Taking, Debunked Talks with Govt