D-Wave Quantum Inc.'s stock price surged 7.50% during Thursday's night session, extending a significant rally for the quantum computing company.
The sharp move was driven by the announcement that the Trump administration is awarding $2 billion in grants to nine quantum-computing firms, with D-Wave set to receive a proposed $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 in the United States and Canada.
The funding initiative marks a strategic 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 catalyzed a broad rally across quantum stocks, with D-Wave's shares attracting significant investor interest following the confirmation of its participation in the landmark government program.
