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Each quantum computing company finalized a $100 million R&D agreement with the U.S. Department of Commerce, which will receive a minority stake in each firm
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D-Wave Quantum, Rigetti Computing, and Quantinuum each finalized definitive agreements with the U.S. Department of Commerce on Tuesday for $100 million apiece in CHIPS and Science Act funding, with the federal government taking a minority, non-controlling equity stake in each company as a condition of the grants.
The three deals total $300 million and are structured as research-and-development grants under the CHIPS Act, the companies said. Shares of all three companies rose in premarket trading Tuesday, with Rigetti stock up 7.4% to $16.33, D-Wave stock up 5.4% to $17.48, and Quantinuum stock up 3.9% to $51.56.
