Why D-Wave Quantum Stock Popped Today

D-Wave Quantum (QBTS +10.86%) signed a definitive agreement with the U.S. Department of Commerce today, giving it access to "up to $100 million" in funding under the U.S. CHIPS and Science Act. D-Wave stock took off like a rocket on the news, soaring 9% through 10:50 a.m. ET Tuesday. Image source: Getty Images. What it means for D-Wave Quantum Company CEO Dr. Alan Baratz said the $100 million will be used to help "scale, commercialize and manufacture ... domestic quantum capabilities," including by "strengthening the underlying supply chain" for building quantum computers. In exchange for giving D-Wave this boost, the company says the U.S. Department of Commerce "will receive a minority, non-controlling equity stake in D-Wave." The exact amount of the stake has not been revealed. Still, given the company's $6.7 billion market capitalization, a $100 million grant might be expected to result in the government taking perhaps a 1.5% equity stake in the company. ExpandNASDAQ: QBTSD-Wave QuantumPremium FeatureMoneyball Superscore68/100Today's Change(10.86%) $1.80Current Price$18.38Key Data PointsMarket Cap$6.2BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Day's Range$17.66 - $18.4852wk Range$12.75 - $46.75Volume17.9MAvg Vol20.6MGross Margin-730.78% What it means for other quantum stocks It's important for investors to note, however, that Commerce hasn't settled upon D-Wave as a sort of "national champion" in quantum computing -- or at least not its only champion. Rival quantum computing companies Quantinuum (QNT +7.20%) and Rigetti Computing (RGTI +7.40%) also won similar $100 million awards under the CHIPS Act today, and both those stocks are up more than 5% on the news. GlobalFoundries (GFS +2.86%) -- a more general semiconductor company and larger in both market capitalization and revenue than any of the pure-play quantum stocks -- received the largest CHIPS Act award of all: $375 million. That's more money than the three pure-play quantum companies received -- combined. If there's a national champion in this group, it's probably GlobalFoundries, not D-Wave Quantum.Read NextAug 30, 2026 •By Rick OrfordD-Wave Quantum's Massive Upside Meets a High-Stakes Valuation RealityAug 29, 2026 •By Anders BylundIs D-Wave Quantum a Buy?Aug 28, 2026 •By Johnny RiceWhy Did D-Wave Quantum Stock Fall 16.6% This Week?Aug 27, 2026 •By Will HealyIf You Invested $1,000 in D-Wave Quantum Stock 3 Years Ago, This Is How Much You Would Have TodayAug 26, 2026 •By Eric VolkmanWhy D-Wave Quantum Stock Was Plummeting TodayAug 24, 2026 •By Robert IzquierdoD-Wave Quantum vs. Rigetti Computing: Which Quantum Computing Stock Is a Better Investment in 2026?About the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedD-Wave QuantumNASDAQ: QBTS$18.39(+10.92%)+$1.81Motley Fool Stock Advisor’s Latest PickGet Access---% Avg ReturnGlobalfoundriesNASDAQ: GFS$46.49(+2.83%)+$1.28*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.