$100 million US grant for D-Wave quantum computing

D-Wave Quantum announced this Tuesday that it has signed a definitive agreement with the United States Department of Commerce. The deal provides the company access to up to $100 million in resources from the CHIPS and Science Act, intended to accelerate research and development in quantum computing. As a condition for receiving the funds, the Department of Commerce will receive a minority equity stake without control over the company. D-Wave stated it will use the capital to build more powerful quantum computers and expand its two main technologies. One project targets a machine with 100,000 qubits for complex tasks including optimization, material simulation, blockchain, and artificial intelligence. Another system aims for 10,000 qubits capable of performing over one million operations for applications in chemistry and AI. CEO Alan Baratz affirmed the funding will expand U.S. domestic quantum capability, strengthen supply chains, and speed up commercialization. The Department of Commerce must verify D-Wave's progress before finalizing any disbursements.