D-Wave signs $100M CHIPS funding LOI for quantum computing scale-up - EdTech Innovation Hub

D-Wave signs $100M CHIPS funding LOI for quantum computing scale-up Fundingquantum computing 28 May Written By Emma Thompson The proposed U.S. Department of Commerce funding would support D-Wave’s annealing and gate-model quantum systems, with the government set to receive an equity stake if final documents are signed. D-Wave Quantum has signed a Letter of Intent for $100 million in proposed CHIPS and Science Act funding from the U.S. Department of Commerce. D-Wave Quantum has signed a Letter of Intent for $100 million in proposed funding under the U.S. CHIPS and Science Act, with the award set to support development of its annealing and gate-model quantum computing systems.The proposed funding is being administered by the U.S. Department of Commerce and remains subject to the execution of final award documents. If completed, D-Wave would issue $100 million in common stock to the U.S. Department of Commerce, giving the U.S. government an equity stake in the company.D-Wave, headquartered in Palo Alto, California, provides quantum computing systems, software, and services across commercial, government, and research markets. The company describes itself as the only dual-platform quantum computing company offering both annealing and gate-model quantum technologies.The funding would support D-Wave’s quantum development and manufacturing work, including activity at its forthcoming research and development facility in Boca Raton, Florida, and its R&D centers in New Haven, Connecticut, and Burnaby, British Columbia.For higher education, research, AI, and advanced skills markets, the proposed award sits inside a wider push to build domestic capacity in quantum computing, advanced manufacturing, packaging, and the technical workforce needed to support next-generation computing infrastructure.Proposed funding targets annealing and gate-model systemsD-Wave plans to use the proposed CHIPS and Science Act funding to accelerate development and scaling of its superconducting quantum computing technologies.The funded work would support both D-Wave’s annealing systems, which are already commercial, and its gate-model quantum computing program. D-Wave expects the funding to accelerate technology scalability, system manufacturing, quantum application delivery, team growth, and research and development across Florida, Connecticut, and British Columbia.Alan Baratz, CEO of D-Wave, describes the proposed award as part of a wider U.S. quantum strategy: "We believe that the U.S. government’s strategic investment in D-Wave would advance the country’s global leadership position in quantum computing. The award would accelerate D-Wave’s ability to scale quantum innovation domestically, expedite key fabrication processes, and deliver real-world quantum applications to our global customers today. We see this as a transformative moment for not just D-Wave, but also for quantum computing and the United States."In a LinkedIn post, Baratz also described the LOI as "a momentous day for D-Wave and an important reinforcement of our nation’s global quantum computing leadership."D-Wave says the funding would help accelerate delivery of advanced superconducting quantum computers, including a 100,000-qubit annealing system and a 10,000-qubit gate-model system.Quantum systems linked to AI, materials, and securityThe U.S. CHIPS and Science Act is designed to strengthen domestic technology supply chains and advance national and economic security. In D-Wave’s case, the proposed funding is focused on the manufacturing, packaging, and scaling work required to move quantum systems further toward market use.Secretary of Commerce Howard Lutnick says: "With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation. These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities."D-Wave’s annealing systems are used for optimization problems, while the company says larger-scale and higher-coherence annealing systems could improve performance across optimization, materials simulation, blockchain, and artificial intelligence applications.The planned dual-rail gate-model quantum computer is expected to support quantum chemistry and quantum artificial intelligence use cases. D-Wave says its gate-model system is expected to reach commercial viability with 10,000 physical qubits, enabling 100 logical qubits.Bill Frauenhofer, Executive Director of Semiconductor Investment and Innovation, adds: "The Department of Commerce’s incentives strengthen and accelerate U.S. quantum leadership and technological resilience. Quantum computing has significant implications for national defense, advanced materials and biopharmaceutical discovery, financial modeling and energy systems."Quantum skills and research capacityD-Wave’s customer base includes more than 100 organizations across commercial, government, and research sectors. Its systems are available on-premises and through Leap, the company’s quantum cloud service, which D-Wave says offers 99.9 percent availability and uptime.The proposed award also brings quantum computing further into the education and skills conversation. Scaling quantum systems depends not only on hardware and manufacturing, but also on researchers, engineers, software teams, quantum application specialists, and institutions able to train people for emerging technical roles.The CHIPS and Science Act funding would contribute to a broader quantum computing ecosystem, including the components, fabrication processes, and R&D capacity needed to bring larger quantum systems to market.The award is not final. D-Wave and the U.S. Department of Commerce still need to execute definitive award documents before the proposed $100 million funding and equity arrangement move forward. D-Wave QuantumU.S. Department of CommerceQuantum computingQuantum technologiesUS GovernmentFundingCHIPS and Science ActResearchResearch and DevelopmentGate-model quantum computingAdvanced manufacturingQuantum AIAI skillsWorkforce skillsworkforce development Emma Thompson