D-Wave Quantum Inc.'s stock surged 9.67% in pre-market trading, extending a multi-session rally for the quantum computing company.
The sharp move was driven by the announcement that the Trump administration is awarding substantial funding to quantum-computing firms, with D-Wave set to receive up to $100 million under the CHIPS and Science Act. As part of the agreement, the U.S. Department of Commerce will obtain an equity stake in D-Wave, with the funding intended to accelerate the development and scaling of the company's quantum systems and research facilities.
The funding initiative is part of a broader $2 billion push by the U.S. government to bolster domestic leadership in the quantum computing sector, which is viewed as critical for economic and national security. The news has catalyzed a significant rally across quantum stocks, with D-Wave's shares attracting strong investor interest following its inclusion in this landmark government program.
