D-Wave Quantum Inc. (NASDAQ: QBTS) has executed a definitive agreement with the U.S. Department of Commerce for up to $100 million in funding under the CHIPS and Science Act. The award, which follows a previously announced Letter of Intent, provides D-Wave with access to federal resources aimed at accelerating U.S. leadership in quantum computing. The company is the only dual-platform quantum computing provider offering both annealing and gate-model systems, software, and services.
"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."
The funding matters because it signals a strategic federal commitment to quantum computing as a pillar of national competitiveness. Quantum technologies have the potential to solve complex problems in logistics, materials science, drug discovery, and artificial intelligence far beyond the reach of classical computers. By investing in D-Wave, the U.S. government aims to ensure that the country maintains a technological edge amid growing global competition. The award also supports the domestic supply chain, which is critical for manufacturing and scaling quantum systems. For D-Wave, the capital will enable expanded research and development, helping the company advance its dual-platform offerings and bring more powerful systems to market.
D-Wave’s systems are available on-premises and through its Leap quantum cloud service, which boasts 99.9% availability and uptime. More than 100 organizations across commercial, government, and research sectors already use D-Wave’s technology to tackle complex computational challenges. As part of the agreement, the company may issue shares of common stock to the Department of Commerce, a condition that carries potential dilution risk for existing stockholders. Other risks include the possibility that the Department terminates the award or that D-Wave fails to meet project milestones.
Investors and industry watchers can find more details in the full press release at https://ibn.fm/XPNic. Additional news and updates about QBTS are available in the company’s newsroom at https://ibn.fm/QBTS. To learn more about D-Wave and its quantum computing solutions, visit https://dwavequantum.com.
