On May 22, D-Wave Quantum rose 7.34% overnight, trading at $27.63/share, with trading volume of $22,000. The rally extends the momentum from the prior session as policy tailwinds continue to drive sentiment.
On the news front, D-Wave Quantum announced it has signed a preliminary memorandum of terms with the U.S. Department of Commerce to receive up to $100 million in funding under the CHIPS and Science Act, aimed at accelerating quantum computing R&D and commercialization in the United States and Canada. The policy catalyst had already propelled shares up nearly 12% during the prior regular session and an additional 5.75% in after-hours trading, with the overnight gain representing continued follow-through.
The funding announcement came after the stock had experienced sustained selling pressure following a weak Q1 earnings report showing revenue of just $2.86 million — an 81% year-over-year decline — and net losses expanding to $18.36 million. The federal backing has shifted market focus toward the company's longer-term commercial prospects, including record Q1 bookings of $33.4 million, up nearly 2,000% year-over-year.
D-Wave Quantum is a pioneer in quantum computing, providing full-stack quantum computing systems, software, and services, with a focus on commercial-grade quantum application deployment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
