{"success":true,"data":{"pressRelease":{"id":"137488","rtpr_id":"nBw84J956a-20260908","ticker":"QBTS","exchange":"NASDAQ","all_tickers":["QBTS"],"title":"D-Wave Quantum Finalizes Definitive Agreement with U.S. Department of Commerce for up to $100 Million to Accelerate U.S. Leadership in Quantum Computing","author":"Business Wire","published_at":"2026-09-08T11:00:00.710Z","article_body":"D-Wave Quantum Finalizes Definitive Agreement with U.S. Department of Commerce\nfor up to $100 Million to Accelerate U.S. Leadership in Quantum Computing\n\nCHIPS and Science Act funding to advance R&D for the company’s\nsuperconducting annealing and gate-model technology development\n\nD-Wave Quantum Inc.\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dwavequantum.com&esheet=54599978&newsitemid=20260907336690&lan=en-US&anchor=D-Wave+Quantum+Inc.&index=1&md5=53a34c4d2fe49446f76e3b6a8489cee3)\n(NASDAQ: QBTS) (“D-Wave” or the “Company”), the only dual-platform\nquantum computing company providing both annealing and gate-model systems,\nsoftware and services, today announced the execution of a definitive agreement\nwith the U.S. Department of Commerce based on the previously announced\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dwavequantum.com%2Fcompany%2Fnewsroom%2Fpress-release%2Fd-wave-and-department-of-commerce-sign-letter-of-intent-for-100-million-in-chips-and-science-act-funding%2F&esheet=54599978&newsitemid=20260907336690&lan=en-US&anchor=announced&index=2&md5=4dd8e0fba0fc2d92040455e73e0b9745)\nLetter of Intent. D-Wave now has access to up to $100 million of U.S. CHIPS\nand Science Act funding.\n\n“We’re grateful to the U.S. government for this award to D-Wave and for\nthe leadership it is demonstrating in advancing quantum innovation,” said\nDr. Alan Baratz, CEO of D-Wave. “The Administration has made clear that U.S.\nquantum leadership will require not only breakthrough research, but also the\nability to scale, commercialize and manufacture these technologies. This award\nwill help fulfill that mission by expanding domestic quantum capabilities,\nstrengthening the underlying supply chain and bringing increasingly powerful\nquantum systems to market.”\n\nThis funding is expected to accelerate R&D for the development and scaling\nof D-Wave’s annealing and gate-model quantum systems. The award will support\ndevelopment of D-Wave’s next-generation quantum computers, including a\n100,000-qubit annealing system targeting greater performance across\noptimization, materials simulation, blockchain and artificial intelligence. It\nwill also further the development of a 10,000-qubit gate-model system designed\nto enable 100 logical qubits capable of successfully performing more than one\nmillion operations, enabling applications such as quantum chemistry and\nquantum AI.\n\nThese efforts advance broader CHIPS and Science Act objectives by\nstrengthening domestic quantum computing capacity and the supply chain needed\nto bring state-of-the-art systems to market.\n\nThe U.S. Department of Commerce will receive a minority, non-controlling\nequity stake in D-Wave as a condition for receiving the funds, enhancing the\nreturn for the U.S. taxpayer.\n\nAbout D-Wave Quantum Inc.\n\nD-Wave is a leader in the development and delivery of quantum computing\nsystems, software, and services. It is the world’s first commercial supplier\nof quantum computers, and the first and only to offer dual-platform quantum\ncomputing products and services, spanning both annealing and gate-model\nquantum computing technologies. D-Wave’s mission is to help customers\nrealize the value of quantum today through enterprise-grade systems available\non-premises and via its Leap™ quantum cloud service, which offers 99.9%\navailability and uptime. More than 100 organizations across commercial,\ngovernment and research sectors trust D-Wave to address complex computational\nchallenges using quantum computing. Learn more about realizing the value of\nquantum computing today and how D-Wave is shaping the quantum-driven\nindustrial and societal advancements of tomorrow: www.dwavequantum.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.dwavequantum.com%2F&esheet=54599978&newsitemid=20260907336690&lan=en-US&anchor=www.dwavequantum.com&index=3&md5=2466fc85c7cb8ad3f4cfdfcb3a8b6795)\n.\n\nForward-Looking Statements\n\nCertain statements in this press release are forward-looking, as defined in\nthe Private Securities Litigation Reform Act of 1995. In some cases, you can\nidentify forward-looking statements by the following words: “believe,”\n“may,” “will,” “could,” “would,” “should,” “expect,”\n“intend,” “plan,” “anticipate,” “trend,” “estimate,”\n“predict,” “project,” “potential,” “seem,” “seek,”\n“future,” “outlook,” “forecast,” “projection,” “continue,”\n“ongoing,” or the negative of these terms or other comparable terminology,\nalthough not all forward-looking statements contain these words. These\nforward-looking statements include, but are not limited to, statements\nregarding the award and the Company’s expected research and development\ninitiatives and plans. These statements are based on various assumptions,\nwhether or not identified herein, and on the current expectations of\nD-Wave’s management. These forward-looking statements are not predictions of\nactual performance and are subject to a number of risks and uncertainties,\nincluding, but not limited to, the risk that the Department terminates the\naward agreement; the risk that the Company is unable to satisfy the conditions\nto disbursement of any portion of the award, including project milestones; the\navailability of appropriated funds; the risk of dilution to existing\nstockholders from the Company’s issuance of shares of common stock to the\nDepartment; and the other risks and uncertainties described under the caption\n“Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form\n10-K or any updates discussed under the caption “Item 1A. Risk Factors” in\nPart II of our Quarterly Reports on Form 10-Q and in our other filings with\nthe SEC. Undue reliance should not be placed on the forward-looking statements\nin this press release in making an investment decision, which are based on\ninformation available to us on the date hereof. We undertake no duty to update\nthis information unless required by law.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260907336690/en/\n(https://www.businesswire.com/news/home/20260907336690/en/)\n\nInvestor Contact: \n\nKevin Hunt\n\nir@dwavesys.com \n(mailto:ir@dwavesys.com) \n\n\nMedia Contact: \n\nAlex Daigle\n\nmedia@dwavesys.com (mailto:media@dwavesys.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw84J956a-20260908","title":"D-Wave Quantum Finalizes Definitive Agreement with U.S. Department of Commerce for up to $100 Million to Accelerate U.S. Leadership in Quantum Computing","author":"Business Wire","ticker":"QBTS","created":"2026-09-08T11:00:00.710Z","tickers":["QBTS"],"exchange":"NASDAQ","article_body":"D-Wave Quantum Finalizes Definitive Agreement with U.S. Department of Commerce\nfor up to $100 Million to Accelerate U.S. Leadership in Quantum Computing\n\nCHIPS and Science Act funding to advance R&D for the company’s\nsuperconducting annealing and gate-model technology development\n\nD-Wave Quantum Inc.\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dwavequantum.com&esheet=54599978&newsitemid=20260907336690&lan=en-US&anchor=D-Wave+Quantum+Inc.&index=1&md5=53a34c4d2fe49446f76e3b6a8489cee3)\n(NASDAQ: QBTS) (“D-Wave” or the “Company”), the only dual-platform\nquantum computing company providing both annealing and gate-model systems,\nsoftware and services, today announced the execution of a definitive agreement\nwith the U.S. Department of Commerce based on the previously announced\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.dwavequantum.com%2Fcompany%2Fnewsroom%2Fpress-release%2Fd-wave-and-department-of-commerce-sign-letter-of-intent-for-100-million-in-chips-and-science-act-funding%2F&esheet=54599978&newsitemid=20260907336690&lan=en-US&anchor=announced&index=2&md5=4dd8e0fba0fc2d92040455e73e0b9745)\nLetter of Intent. D-Wave now has access to up to $100 million of U.S. CHIPS\nand Science Act funding.\n\n“We’re grateful to the U.S. government for this award to D-Wave and for\nthe leadership it is demonstrating in advancing quantum innovation,” said\nDr. Alan Baratz, CEO of D-Wave. “The Administration has made clear that U.S.\nquantum leadership will require not only breakthrough research, but also the\nability to scale, commercialize and manufacture these technologies. This award\nwill help fulfill that mission by expanding domestic quantum capabilities,\nstrengthening the underlying supply chain and bringing increasingly powerful\nquantum systems to market.”\n\nThis funding is expected to accelerate R&D for the development and scaling\nof D-Wave’s annealing and gate-model quantum systems. The award will support\ndevelopment of D-Wave’s next-generation quantum computers, including a\n100,000-qubit annealing system targeting greater performance across\noptimization, materials simulation, blockchain and artificial intelligence. It\nwill also further the development of a 10,000-qubit gate-model system designed\nto enable 100 logical qubits capable of successfully performing more than one\nmillion operations, enabling applications such as quantum chemistry and\nquantum AI.\n\nThese efforts advance broader CHIPS and Science Act objectives by\nstrengthening domestic quantum computing capacity and the supply chain needed\nto bring state-of-the-art systems to market.\n\nThe U.S. Department of Commerce will receive a minority, non-controlling\nequity stake in D-Wave as a condition for receiving the funds, enhancing the\nreturn for the U.S. taxpayer.\n\nAbout D-Wave Quantum Inc.\n\nD-Wave is a leader in the development and delivery of quantum computing\nsystems, software, and services. It is the world’s first commercial supplier\nof quantum computers, and the first and only to offer dual-platform quantum\ncomputing products and services, spanning both annealing and gate-model\nquantum computing technologies. D-Wave’s mission is to help customers\nrealize the value of quantum today through enterprise-grade systems available\non-premises and via its Leap™ quantum cloud service, which offers 99.9%\navailability and uptime. More than 100 organizations across commercial,\ngovernment and research sectors trust D-Wave to address complex computational\nchallenges using quantum computing. Learn more about realizing the value of\nquantum computing today and how D-Wave is shaping the quantum-driven\nindustrial and societal advancements of tomorrow: www.dwavequantum.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.dwavequantum.com%2F&esheet=54599978&newsitemid=20260907336690&lan=en-US&anchor=www.dwavequantum.com&index=3&md5=2466fc85c7cb8ad3f4cfdfcb3a8b6795)\n.\n\nForward-Looking Statements\n\nCertain statements in this press release are forward-looking, as defined in\nthe Private Securities Litigation Reform Act of 1995. In some cases, you can\nidentify forward-looking statements by the following words: “believe,”\n“may,” “will,” “could,” “would,” “should,” “expect,”\n“intend,” “plan,” “anticipate,” “trend,” “estimate,”\n“predict,” “project,” “potential,” “seem,” “seek,”\n“future,” “outlook,” “forecast,” “projection,” “continue,”\n“ongoing,” or the negative of these terms or other comparable terminology,\nalthough not all forward-looking statements contain these words. These\nforward-looking statements include, but are not limited to, statements\nregarding the award and the Company’s expected research and development\ninitiatives and plans. These statements are based on various assumptions,\nwhether or not identified herein, and on the current expectations of\nD-Wave’s management. These forward-looking statements are not predictions of\nactual performance and are subject to a number of risks and uncertainties,\nincluding, but not limited to, the risk that the Department terminates the\naward agreement; the risk that the Company is unable to satisfy the conditions\nto disbursement of any portion of the award, including project milestones; the\navailability of appropriated funds; the risk of dilution to existing\nstockholders from the Company’s issuance of shares of common stock to the\nDepartment; and the other risks and uncertainties described under the caption\n“Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form\n10-K or any updates discussed under the caption “Item 1A. Risk Factors” in\nPart II of our Quarterly Reports on Form 10-Q and in our other filings with\nthe SEC. Undue reliance should not be placed on the forward-looking statements\nin this press release in making an investment decision, which are based on\ninformation available to us on the date hereof. We undertake no duty to update\nthis information unless required by law.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260907336690/en/\n(https://www.businesswire.com/news/home/20260907336690/en/)\n\nInvestor Contact: \n\nKevin Hunt\n\nir@dwavesys.com \n(mailto:ir@dwavesys.com) \n\n\nMedia Contact: \n\nAlex Daigle\n\nmedia@dwavesys.com (mailto:media@dwavesys.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-08T11:00:00.891917034Z","server_sent_at_ms":1788865200891},"received_at":"2026-09-08T11:00:00.949Z","source_url":"https://www.businesswire.com/news/home/20260907336690/en/"},"analysis":{"id":"126360","press_release_id":"137488","analysis_json":{"industry":{"label":"Technology Hardware, Storage & Peripherals","sector":"Information Technology"},"redFlags":["Funding is 'up to' $100M and disbursement is conditioned on project milestones and availability of appropriated funds; the Department can terminate the award agreement","Commerce Department receives a minority equity stake via issuance of common stock -- dilution risk for existing shareholders, size of stake not disclosed"],"eventType":"partnership","narrative":"D-Wave Quantum executed a definitive agreement with the U.S. Department of Commerce, giving the company access to up to $100 million in CHIPS and Science Act funding and finalizing the previously announced Letter of Intent.\n\nThe award funds R&D on next-generation systems, including a 100,000-qubit annealing computer targeting optimization, materials simulation, blockchain and AI workloads, plus a 10,000-qubit gate-model system designed to deliver 100 logical qubits.\n\nAs a condition of the funds, the Commerce Department receives a minority, non-controlling equity stake in D-Wave, creating dilution risk for existing shareholders, and disbursement remains subject to project milestones, appropriated funds, and the Department's right to terminate.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Federal CHIPS validation for D-Wave -- up to $100M supercharges the quantum roadmap, but the equity-for-cash structure adds a dilution twist."},"keyFigures":{"dealValueUsd":"up to $100 million","customDimensions":{"award_max_usd":100000000,"funding_source":"CHIPS and Science Act","equity_condition":"minority, non-controlling stake to U.S. Department of Commerce","logical_qubit_target":100,"annealing_system_qubit_target":100000,"gate_model_system_qubit_target":10000}},"quotedText":"The Administration has made clear that U.S. quantum leadership will require not only breakthrough research, but also the ability to scale, commercialize and manufacture these technologies.","namedEntities":{"people":[{"name":"Dr. Alan Baratz","role":"CEO of D-Wave"},{"name":"Kevin Hunt","role":"Investor Contact"},{"name":"Alex Daigle","role":"Media Contact"}],"products":["Leap quantum cloud service","100,000-qubit annealing system","10,000-qubit gate-model system"],"companies":[{"name":"D-Wave Quantum Inc.","ticker":"QBTS","relationship":"filer / award recipient"},{"name":"U.S. Department of Commerce","relationship":"government funding partner / equity stakeholder"}],"dollarAmounts":[{"amount":"$100 million","context":"CHIPS and Science Act funding award (up to), via definitive agreement with U.S. Department of Commerce"}]},"materialImpact":{"score":4,"reasoning":"Definitive agreement converting the prior LOI into binding access to up to $100M in CHIPS and Science Act funding -- a major capital and credibility win that accelerates D-Wave's roadmap. Tempered from 5 because disbursement is milestone-contingent and the Commerce Department takes a minority equity stake, introducing modest dilution."},"tickerRelevance":{"others":[],"primary":"QBTS"},"globalImportance":46,"audienceRelevance":58,"eventTypeSecondary":["dilution"],"importanceComponents":{"tickerTier":"mid-cap retail-favorite","eventGravity":"government funding award up to $100M with equity component","sectorWeight":"quantum computing - high retail and policy interest","dilutionUncertainty":"equity stake size undisclosed","retailFavoriteBoost":true,"governmentEndorsement":true}},"event_type":"partnership","event_type_secondary":["dilution"],"sentiment":"bullish","material_impact_score":4,"narrative":"D-Wave Quantum executed a definitive agreement with the U.S. Department of Commerce, giving the company access to up to $100 million in CHIPS and Science Act funding and finalizing the previously announced Letter of Intent.\n\nThe award funds R&D on next-generation systems, including a 100,000-qubit annealing computer targeting optimization, materials simulation, blockchain and AI workloads, plus a 10,000-qubit gate-model system designed to deliver 100 logical qubits.\n\nAs a condition of the funds, the Commerce Department receives a minority, non-controlling equity stake in D-Wave, creating dilution risk for existing shareholders, and disbursement remains subject to project milestones, appropriated funds, and the Department's right to terminate.","key_figures":{"dealValueUsd":"up to $100 million","customDimensions":{"award_max_usd":100000000,"funding_source":"CHIPS and Science Act","equity_condition":"minority, non-controlling stake to U.S. Department of Commerce","logical_qubit_target":100,"annealing_system_qubit_target":100000,"gate_model_system_qubit_target":10000}},"named_entities":{"people":[{"name":"Dr. Alan Baratz","role":"CEO of D-Wave"},{"name":"Kevin Hunt","role":"Investor Contact"},{"name":"Alex Daigle","role":"Media Contact"}],"products":["Leap quantum cloud service","100,000-qubit annealing system","10,000-qubit gate-model system"],"companies":[{"name":"D-Wave Quantum Inc.","ticker":"QBTS","relationship":"filer / award recipient"},{"name":"U.S. Department of Commerce","relationship":"government funding partner / equity stakeholder"}],"dollarAmounts":[{"amount":"$100 million","context":"CHIPS and Science Act funding award (up to), via definitive agreement with U.S. Department of Commerce"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-08T11:07:44.308Z","global_importance":46,"audience_relevance":58,"importance_components":{"tickerTier":"mid-cap retail-favorite","eventGravity":"government funding award up to $100M with equity component","sectorWeight":"quantum computing - high retail and policy interest","dilutionUncertainty":"equity stake size undisclosed","retailFavoriteBoost":true,"governmentEndorsement":true}},"durationMs":69105,"modelName":"glm-4.7"}}