D-Wave Quantum Inc. (NASDAQ: QBTS), the only dual-platform quantum computing company providing both annealing and gate-model systems, software and services, announced the execution of a definitive agreement with the U.S. Department of Commerce based on the previously announced Letter of Intent. The agreement gives D-Wave access to up to $100 million of U.S. CHIPS and Science Act funding.
This development is significant because it represents a direct federal investment in a commercial quantum computing firm, aiming to accelerate U.S. leadership in a technology expected to drive future economic and national security advantages. The funding will support D-Wave's efforts 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 implications of this award extend beyond D-Wave. It signals a broader U.S. strategy to ensure that quantum computing—a field with potential applications in materials science, cryptography, logistics, and drug discovery—remains a domestic priority. By funding a company that offers both annealing and gate-model quantum systems, the government is hedging its bets on multiple quantum approaches, which could accelerate the timeline for practical quantum advantage.
D-Wave, the world’s first commercial supplier of quantum computers, has positioned itself as a leader in delivering enterprise-grade quantum systems available on-premises and via its Leap quantum cloud service, which boasts 99.9% availability and uptime. More than 100 organizations across commercial, government, and research sectors already trust D-Wave to address complex computational challenges.
The CHIPS and Science Act funding is part of a larger U.S. effort to bolster domestic semiconductor and advanced computing industries. For D-Wave, the capital will likely accelerate research and development, manufacturing scale-up, and customer adoption. It may also help the company attract additional private investment and partnerships, as government backing often serves as a validation of a company’s technology and business model.
For the broader quantum industry, this award could set a precedent for further federal support, encouraging other companies to seek government funding and collaboration. It also highlights the growing recognition that quantum computing is not just a scientific curiosity but a strategic asset that requires coordinated public-private investment to maintain U.S. competitiveness against global rivals.
To view the full press release, visit https://ibn.fm/XPNic. For more information about D-Wave, visit https://www.dwavequantum.com. The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS.
