D-Wave finalizes access to up to $100 million in CHIPS funding

D-Wave Quantum finalized a definitive agreement with the U.S. Department of Commerce providing access to up to $100 million in CHIPS and Science Act funding, following a letter of intent disclosed in May. The company says it will use the funding for next-generation annealing and gate-model quantum systems, including planned 100,000-qubit and 10,000-qubit platforms. Commerce will receive a minority, non-controlling equity stake under the agreement. The funding is intended to support domestic quantum-computing capacity and the supply chain for advanced systems.