D-Wave Quantum secures $100 million in government funding to accelerate quantum computing development and expand R&D facilities.
D-Wave Quantum Inc. (NYSE:QBTS) shares jumped 44.5 percent week-on-week after the US Department of Commerce allocated $100 million to the company. The funding aims to bolster quantum computing innovation and maintain US leadership in the sector.
The $100 million investment is part of a broader $2 billion initiative to support nine companies advancing quantum technologies. D-Wave will use the proceeds to accelerate development of annealing and gate-model quantum systems at its R&D centers in Florida, Connecticut, and Canada.
CEO Alan Baratz called the funding a transformative moment, stating it would expedite fabrication processes and deliver real-world quantum applications to global customers.