D Wave Quantum Wins US$100 Million CHIPS Act Backing As Losses Widen
May 22, 2026
• D-Wave Quantum (NYSE:QBTS) received a $100 million equity investment from the U.S. government under the CHIPS and Science Act.
• The funding comes through the U.S. Department of Commerce as part of a broader $2 billion federal initiative in quantum computing.
• The capital is intended to support D-Wave's quantum R&D, including both annealing and gate-model platforms, and to strengthen the domestic quantum supply chain.
D-Wave Quantum enters this funding milestone with its stock at $25.74 and a very large 3-year return, along with a 35.2% return over the past year. The share price is up 16.3% over the past week and 26.4% over the past month, while year-to-date performance is down 8.5%. This gives investors a mix of shorter-term strength and earlier-year weakness to weigh against the new capital injection.
For investors watching NYSE:QBTS, the U.S. government equity stake indicates that federal agencies view D-Wave as a key participant in quantum computing efforts tied to national priorities and research leadership. The planned use of funds across R&D, scaling of hardware platforms, and supply chain development may support the development of closer government partnerships and influence how D-Wave positions itself within the broader $2 billion U.S. quantum initiative.
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The proposed US$100 million equity investment from the U.S. Department of Commerce gives D-Wave Quantum a new anchor investor at a time when its fundamentals are mixed. On one hand, the company recently reported Q1 2026 revenue of US$2.86 million, down from US$15 million a year earlier, and a wider net loss of US$18.36 million. On the other hand, bookings of US$33.4 million, the Quantum Circuits acquisition and heavier government interest indicate that D-Wave is drawing attention from large customers who are prepared to sign multi year deals. The CHIPS and Science Act funding signals that U.S. policymakers want D-Wave’s annealing and gate model hardware as part of a domestic quantum supply chain, which many investors read as validation after a period of volatile trading and sector wide profit taking.
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