D-Wave Quantum Inc. (NASDAQ: QBTS), a leader in quantum computing systems, software, and services, has executed a definitive agreement with the U.S. Department of Commerce for up to $100 million in funding under the U.S. CHIPS and Science Act. The agreement, based on a previously announced Letter of Intent, provides D-Wave with access to federal funds aimed at accelerating U.S. leadership in quantum computing.
The significance of this award extends beyond D-Wave. It signals a strategic federal push to ensure the United States remains at the forefront of quantum innovation, a technology poised to revolutionize industries from logistics to drug discovery. By backing a commercial quantum computing company, the government is acknowledging that maintaining leadership requires not only basic research but also the ability to scale, commercialize, and manufacture quantum systems domestically.
“We’re grateful to the U.S. government for this award to D-Wave and for the leadership it is demonstrating in advancing quantum innovation,” said Dr. Alan Baratz, CEO of D-Wave. “The Administration has made clear that U.S. quantum leadership will require not only breakthrough research, but also the ability to scale, commercialize and manufacture these technologies. This award will help fulfill that mission by expanding domestic quantum capabilities, strengthening the underlying supply chain and bringing increasingly powerful quantum systems to market.”
D-Wave is the only dual-platform quantum computing company, offering both annealing and gate-model systems, software, and services. Its technology is used by more than 100 organizations across commercial, government, and research sectors to tackle complex computational challenges. The company’s Leap quantum cloud service boasts 99.9% availability and uptime, making quantum computing accessible today.
The funding will support D-Wave’s efforts to expand domestic quantum capabilities and strengthen the supply chain, which is critical for national security and economic competitiveness. As quantum computing moves from experimental to enterprise-grade, federal investment helps mitigate risks associated with scaling and commercialization. This award also positions D-Wave to accelerate its research and development initiatives, potentially bringing more powerful quantum systems to market faster.
For investors, the agreement reduces some uncertainty around D-Wave’s growth trajectory, though risks remain. The award is subject to conditions, including project milestones and the availability of appropriated funds. Additionally, the company may issue shares of common stock to the Department, which could dilute existing stockholders. These factors are detailed in D-Wave’s SEC filings.
To view the full press release, visit https://ibn.fm/XPNic. For more information about D-Wave, visit https://dwavequantum.com. The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS.
