D-Wave Secures Up to $100 Million in CHIPS Act Funding to Boost U.S. Quantum Computing Leadership

D-Wave Quantum Inc. (NASDAQ: QBTS), the only dual-platform quantum computing company offering both annealing and gate-model systems, 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, gives D-Wave access to federal resources to expand domestic quantum capabilities, strengthen the underlying supply chain, and bring increasingly powerful quantum systems to market.

"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 carries significant implications for the quantum computing industry and the broader U.S. technology sector. Quantum computing is poised to revolutionize fields such as logistics, drug discovery, finance, and artificial intelligence by solving complex problems beyond the reach of classical computers. By investing in domestic quantum capabilities, the U.S. government aims to secure a competitive edge in a technology race with global rivals. For Texas, the award could spur economic activity if D-Wave expands its operations or partnerships within the state, though the company has not specified geographic allocation of the funds.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. It is the world’s first commercial supplier of quantum computers and the first and only to offer dual-platform quantum computing products and services, spanning both annealing and gate-model technologies. D-Wave’s mission is to help customers realize the value of quantum today through enterprise-grade systems available on-premises and via its Leap quantum cloud service, which offers 99.9% availability and uptime. More than 100 organizations across commercial, government, and research sectors trust D-Wave to address complex computational challenges. Learn more about how D-Wave is shaping quantum-driven advancements at https://dwavequantum.com.

The definitive agreement, however, is subject to risks and uncertainties. These include the possibility that the Department of Commerce terminates the award, that D-Wave fails to satisfy conditions for disbursement such as project milestones, or that appropriated funds become unavailable. Additionally, the company’s issuance of common stock to the Department could dilute existing stockholders. These factors are detailed in D-Wave’s SEC filings. For investors and industry observers, the award underscores the federal government’s commitment to quantum computing as a strategic priority, but also highlights execution risks. The full press release can be viewed at https://ibn.fm/XPNic. The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS.

For Texas, the news is a reminder of the state’s growing role in advanced technology sectors. While D-Wave is not headquartered in Texas, its success in securing federal backing could encourage similar public-private partnerships and attract quantum-related investment to the state. As the U.S. races to lead in quantum, Texas businesses and research institutions may find new opportunities in the supply chain, software development, and workforce training that support this emerging industry.