D-Wave Quantum Finalizes Definitive Agreement with U.S. Department of Commerce for up to $100 Million to Accelerate U.S. Leadership in Quantum Computing

D-Wave Quantum (QBTS) signed a definitive agreement with the U.S. Department of Commerce granting access to up to $100 million in CHIPS and Science Act funding.

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CHIPS and Science Act funding to advance R&D for the company’s superconducting annealing and gate-model technology development

PALO ALTO, Calif.--(BUSINESS WIRE)-- 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.

“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.”

This funding is expected to accelerate R&D for the development and scaling of D-Wave’s annealing and gate-model quantum systems. The award will support development of D-Wave’s next-generation quantum computers, including a 100,000-qubit annealing system targeting greater performance across optimization, materials simulation, blockchain and artificial intelligence. It will also further the development of a 10,000-qubit gate-model system designed to enable 100 logical qubits capable of successfully performing more than one million operations, enabling applications such as quantum chemistry and quantum AI.

These efforts advance broader CHIPS and Science Act objectives by strengthening domestic quantum computing capacity and the supply chain needed to bring state-of-the-art systems to market.

The U.S. Department of Commerce will receive a minority, non-controlling equity stake in D-Wave as a condition for receiving the funds, enhancing the return for the U.S. taxpayer.

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. It is the world’s first commercial supplier of quantum computers, and the first and only to offer dual-platform quantum computing products and services, spanning both annealing and gate-model quantum computing technologies. D-Wave’s mission is to help customers realize the value of quantum today through enterprise-grade systems available on-premises and via its Leap™ quantum cloud service, which offers 99.9% availability and uptime. More than 100 organizations across commercial, government and research sectors trust D-Wave to address complex computational challenges using quantum computing. Learn more about realizing the value of quantum computing today and how D-Wave is shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “believe,” “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “trend,” “estimate,” “predict,” “project,” “potential,” “seem,” “seek,” “future,” “outlook,” “forecast,” “projection,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, statements regarding the award and the Company’s expected research and development initiatives and plans. These statements are based on various assumptions, whether or not identified herein, and on the current expectations of D-Wave’s management. These forward-looking statements are not predictions of actual performance and are subject to a number of risks and uncertainties, including, but not limited to, the risk that the Department terminates the award agreement; the risk that the Company is unable to satisfy the conditions to disbursement of any portion of the award, including project milestones; the availability of appropriated funds; the risk of dilution to existing stockholders from the Company’s issuance of shares of common stock to the Department; and the other risks and uncertainties described under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260907336690/en/

Investor Contact:
Kevin Hunt
ir@dwavesys.com

Media Contact:
Alex Daigle
media@dwavesys.com

Source: D-Wave Quantum Inc.

Key Terms

chips and science act regulatory

A federal law that provides large-scale government funding and incentives to boost domestic semiconductor manufacturing, related research, and broader science and technology programs. It matters to investors because the law changes where companies build factories, who gets subsidies, and which industries attract new private investment—similar to a city offering tax breaks to bring in factories, it can shift profits, capital spending and competitive positions across supply chains.

gate-model technical

A gate-model is a stepwise project-management process that breaks a development program into defined stages separated by decision points, or “gates,” where progress, evidence and resources are reviewed before allowing the project to continue. For investors, each gate acts like a checkpoint on a road trip—cleared gates reduce technical and regulatory risk and justify further funding, while failed or delayed gates signal higher chance of cost overruns, timeline slips or project termination.

annealing technical

Annealing is a controlled process that changes the internal structure of a material or molecular system to improve performance: in manufacturing it typically means heating and then slowly cooling metals, glass or semiconductor layers to relieve stress and make them stronger or more reliable, while in molecular biology it means bringing complementary strands of DNA or RNA together so they stick in the right places. Investors should care because annealing affects product quality, manufacturing yield, device reliability and the accuracy of biological tests—factors that influence costs, revenue and regulatory outcomes much like reshaping or neatly fastening parts improves a finished product.

logical qubits technical

Logical qubits are reliable information units inside a quantum computer that are built by combining many fragile physical qubits and protective techniques so the data stays correct over time. Think of them like a dependable backup system made from many weak parts: they cost more to create but let the machine run longer and solve real problems. Investors watch logical-qubit counts because they indicate how close a device is to performing useful, error-resistant quantum calculations and therefore to commercial value.