D-Wave Quantum Secures $100M Grant, Shares Surge 19.4%
D-Wave Quantum won a $100M grant from the Commerce Department under a $2B CHIPS and Science Act package as one of seven superconducting quantum research awardees. Shares of D-Wave Quantum jumped 19.4% following the award, narrowing their year-to-date decline to 13% and facing technical resistance at early May highs.
1. Funding Details
D-Wave Quantum received a $100M grant under the Commerce Department’s $2B CHIPS and Science Act quantum package, one of seven superconducting quantum research awardees. The award includes a minority, noncontrolling equity stake for the government in D-Wave.
2. Market Reaction
Shares of D-Wave Quantum surged 19.4% post-announcement, narrowing their 2026 loss to 13% and approaching early May resistance levels. The stock remains heavily shorted, with approximately 14.6% of its float sold short.
3. Strategic Impact
The funding will bolster D-Wave’s superconducting quantum chip research and development efforts. This positions the company to advance quantum encryption and computing capabilities and compete more effectively with peers like Rigetti and Infleqtion.