Updated changelog with QR rename

docs/guides/latest-updates.mdx

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 # Changelog
 
-*Last updated 5 June 2026*
+*Last updated 27 July 2026*
 
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 Keep up with the latest and greatest from Qiskit and IBM Quantum®!
 
 <Admonition type="note" title="What's new (last 60 days)">
 
+27 July 2026
+
+- **Qiskit Runtime Service is now IBM Quantum Compute Service** &mdash; This is a naming change only and does not require any code changes or updates to existing applications. You may notice the new name throughout the user interface and documentation. [*Read more*](#qr-rename)
+---
+
 16 July 2026
 
-- **New pre-flight checks and new `backend` methods in Qiskit Functions v0.17.0** &mdash; Use the new methods in `qiskit-ibm-catalog` to check runtime capacity and backend access before you run, and `run()` now validates both before it submits a job. [*Read more*](#new-methods)
+- **New pre-flight checks and new `backend` methods in Qiskit Functions v0.17.0** &mdash; Use the new methods in `qiskit-ibm-catalog` to check runtime capacity and backend access before you run, and `run()` now validates both before it submits a job. [*Read more*](new-methods)
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 5 June 2026
@@ -50,6 +55,11 @@ Jump to [IBM Quantum Platform](#latest-platform) | [Qiskit SDK](#latest-qiskit-s
 
 This section summarizes the recent enhancements and new features for the new [IBM Quantum Platform](https://quantum.cloud.ibm.com/).
 
+### July 2026
+
+<span id="qr-rename"></span>
+- **Qiskit Runtime Service is now IBM Quantum Compute Service** - Qiskit Runtime previously referred to both an internal runtime mechanism and IBM's managed execution service, creating confusion between open-source Qiskit and IBM's proprietary platform. The new naming clearly separates Qiskit, the open-source SDK for building portable quantum applications, from IBM Quantum Compute, the managed service for executing them on IBM quantum hardware. This provides a clearer architecture without changing workflows, APIs, access plans, or the customer experience.
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 ### May 2026
 
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