On September 4, 2026, D-Wave Quantum Inc. entered into an Other Transaction Agreement with the U.S. Department of Commerce to receive up to $100 million in CHIPS and Science Act funding for advanced quantum computing research and development. The award includes an initial tranche of $53,552,620, with subsequent tranches totaling approximately $46.4 million contingent on achieving specific milestones related to tool installation, prototype fabrication, and system calibration. As a condition of the agreement, D-Wave will issue 7,095,721 shares of common stock to the Department at $14.093 per share, representing a minority equity stake subject to transfer restrictions and repurchase rights if the government terminates the award for convenience. The company operates in the quantum computing industry, developing superconducting annealing and gate-model systems.
