The U.S. Department of Commerce awarded $2 billion to nine quantum firms, and D-Wave Quantum surged 33.4% Thursday, topping $30 midday since January. Historical data show eight 30%+ jumps since 2023 with an average three-month gain of 20.3%, suggesting a potential rise toward $40 by summer’s end.
The U.S. Department of Commerce awarded $2 billion in grants to nine quantum computing firms, including an equity stake component. D-Wave Quantum and Rigetti Computing filed letters of intent to secure $100 million under the CHIPS Act, reinforcing sector funding and investor sentiment.
D-Wave Quantum shares jumped 33.4% on Thursday, rising past $30 midday for the first time since January and marking a second bull gap Friday with a near 20% midday gain. IonQ and Rigetti Computing also climbed 12.2% and 30.1%, respectively, reflecting broad sector enthusiasm.
Since 2023, D-Wave Quantum recorded eight session jumps of 30% or more, with three-month returns averaging 20.3% and positive 75% of the time. IonQ and Rigetti show similar patterns, with average three-month gains of 37.6% and 44.2% after comparable rallies.
With a year-to-date gain of 18% and a breakout from a downward channel, D-Wave’s share price could approach $40 by the end of summer if historical trends persist. High short interest at 14.6% and affordable options volatility at the 30th percentile add complexity to the stock’s trajectory.
