D-Wave Finalizes US Deal for Up To $100 Million for Quantum Computing Development; Shares Up Pre-Bell
MT Newswires Live
Sep 08
D-Wave Quantum (QBTS) finalized an agreement with the US Department of Commerce, granting the company access to up to $100 million in CHIPS and Science Act funding, D-Wave said Tuesday.
The funding will support research and development of D-Wave's annealing and gate-model quantum technologies, including systems targeting 100,000 and 10,000 qubits, respectively.
As a condition for the funds, the Commerce Department will receive a minority, non-controlling equity interest in D-Wave, the company said.
D-Wave shares were up 4.5% in premarket activity.
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