Curated News
By: NewsRamp Editorial Staff
May 22, 2026

D-Wave Secures $100M LOI from U.S. CHIPS Act for Quantum Computing

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TLDR

  • D-Wave secures $100M U.S. government funding, gaining a strategic advantage in quantum computing leadership and market position.
  • D-Wave signed a Letter of Intent for $100M CHIPS Act funding, issuing shares to the U.S. Department of Commerce upon final award.
  • U.S. investment in D-Wave aims to advance quantum innovation, potentially boosting economy and creating real-world applications for societal benefit.
  • D-Wave is the only dual-platform quantum company, offering both annealing and gate-model systems for diverse computational needs.

Impact - Why it Matters

This news matters because it signals strong U.S. government backing for quantum computing, a technology poised to revolutionize industries from cryptography to drug discovery. If finalized, the $100 million investment will accelerate D-Wave's development of practical quantum applications, potentially giving U.S. businesses a competitive edge. For investors, it underscores D-Wave's strategic importance and could drive stock interest. The funding also highlights the government's commitment to domestic quantum innovation, which could lead to job creation and technological leadership.

Summary

D-Wave Quantum Inc. (NYSE: QBTS), the only dual-platform quantum computing company providing both annealing and gate-model systems, has announced a significant milestone. The company signed a Letter of Intent (LOI) for $100 million in proposed funding under the U.S. CHIPS and Science Act, administered by the U.S. Department of Commerce. In connection with executing final award documents, D-Wave would issue $100 million in shares of its common stock to the U.S. Department of Commerce. This LOI marks a strong endorsement by the U.S. government of D-Wave’s annealing and gate-model quantum computing technologies and their potential impact on the U.S. economy.

Dr. Alan Baratz, CEO of D-Wave, stated, “We believe that the U.S. government’s strategic investment in D-Wave would advance the country’s global leadership position in quantum computing. The award would accelerate D-Wave’s ability to scale quantum innovation domestically, expedite key fabrication processes, and deliver real-world quantum applications to our global customers today. We see this as a transformative moment for not just D-Wave, but also for quantum computing and the United States.” D-Wave is a leader in quantum computing systems, software, and services, and is the world’s first commercial supplier of quantum computers. It offers enterprise-grade systems via its Leap quantum cloud service with 99.9% availability. Over 100 organizations across commercial, government, and research sectors trust D-Wave for complex computational challenges.

This funding, if finalized, could significantly boost D-Wave's domestic quantum innovation and fabrication capabilities. The company's dual-platform approach—offering both annealing and gate-model technologies—positions it uniquely in the quantum landscape. For more details, the full press release is available at https://ibn.fm/Pj3aV. Investors can find the latest news and updates relating to QBTS in the company’s newsroom at https://ibn.fm/QBTS. TechMediaWire, a specialized communications platform, is one of 75+ brands within the Dynamic Brand Portfolio @ IBN that delivers comprehensive corporate communications solutions.

Source Statement

This curated news summary relied on content disributed by InvestorBrandNetwork (IBN). Read the original source here, D-Wave Secures $100M LOI from U.S. CHIPS Act for Quantum Computing

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