D-Wave secures up to $100M in CHIPS Act funding from U.S. government

D-Wave Quantum Inc. (NASDAQ: QBTS) has finalized a definitive agreement with the U.S. Department of Commerce for up to $100 million in funding under the CHIPS and Science Act, the company announced September 8, 2026.

The funding is intended to support research and development of D-Wave's annealing and gate-model quantum computing systems. Specific targets include a 100,000-qubit annealing system and a 10,000-qubit gate-model system designed to support 100 logical qubits capable of performing more than one million operations.

The agreement follows a previously announced Letter of Intent between D-Wave and the Department of Commerce. As a condition of receiving the funds, the U.S. Department of Commerce will receive a minority, non-controlling equity stake in D-Wave.

CEO Dr. Alan Baratz said in a statement: "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."

The Palo Alto-based company describes itself as offering both annealing and gate-model quantum computing platforms. The funding is based on a press release from D-Wave.

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