D-Wave Finalizes $100M U.S. Government Agreement for Quantum Computing R&D

Insider Brief

D-Wave has finalized a definitive agreement with the U.S. Department of Commerce giving the company access to up to $100 million in CHIPS and Science Act funding.

The funding will support development and scaling of D-Wave’s annealing and gate-model quantum systems, including planned 100,000-qubit and 10,000-qubit systems.

The Department of Commerce will receive a minority, non-controlling equity stake in D-Wave as a condition of the funding.

PRESS RELEASE — D-Wave Quantum Inc. (NASDAQ: QBTS) (“D-Wave” or the “Company”), the only dual-platform quantum computing company providing both annealing and gate-model systems, software and services, today announced the execution of a definitive agreement with the U.S. Department of Commerce based on the previously announced Letter of Intent. D-Wave now has access to up to $100 million of U.S. CHIPS and Science Act funding.