D-Wave Quantum Inc. (NASDAQ: QBTS) has finalized a definitive agreement with the U.S. Department of Commerce, securing access to up to $100 million in federal funding.
The agreement is rooted in the U.S. CHIPS and Science Act, a landmark piece of legislation designed to strengthen domestic technology manufacturing and research capabilities.
The deal formalizes a previously announced Letter of Intent between D-Wave and the Commerce Department, marking a significant milestone in the company’s federal engagement.
D-Wave describes itself as the only dual-platform quantum computing company, offering both annealing and gate-model systems alongside software and services.
The company is widely recognized as the world’s first commercial supplier of quantum computers, with a track record spanning both government and enterprise sectors.
CEO Dr. Alan Baratz welcomed the agreement, framing it as a reflection of the federal government’s commitment to advancing the quantum technology sector.
“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.
Baratz further emphasized that scaling and commercializing quantum technology is just as critical as foundational research in maintaining national competitiveness.
“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,” said Dr. Baratz.
He added that the funding will directly support domestic quantum capabilities, supply chain development, and the delivery of more powerful systems to market.
“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,” Dr. Baratz said.
D-Wave serves more than 100 organizations across commercial, government, and research sectors through its enterprise-grade quantum systems.
The company provides quantum access both on-premises and through its Leap quantum cloud service, which the company says maintains 99.9% availability and uptime.
QBTS shares were trading up 0.18% following the announcement, reflecting measured but positive investor sentiment around the news.
The $100 million funding commitment positions D-Wave as a key beneficiary of Washington’s broader strategy to ensure American leadership in next-generation computing technologies.
