Full Breakdown
U.S. Department of Commerce Awards $100 Million CHIPS Act Grants to Multiple Quantum Computing Companies
9/8/2026, 9:36:45 PM
Core Funding Agreements
The U.S. Department of Commerce, under the CHIPS and Science Act, signed three Other Transaction Agreements, each providing up to $100 million for quantum-computing research and manufacturing.
- Rigetti Computing – $100 M total; $43.9 M initial disbursement, followed by $29.9 M and $26.2 M milestone tranches. Rigetti will issue 7,739,938 shares at $12.92 each, giving the government a minority, non-controlling equity stake. Funding targets miniaturized readout electronics, a next-generation cryostat, and high-connectivity chip fabrication over up to five years.
- D-Wave Quantum – Up to $100 M; $53.55 M initial tranche after September 4, with later installments tied to milestones. D-Wave will issue 7,095,721 shares at $14.093 each (15 % discount), also granting a minority, non-voting stake. Money will finance a 100,000-qubit annealing platform and a 10,000-qubit gate-model system.
- Quantinuum – $100 M focused on trapped-ion quantum computers. The company will partner with GlobalFoundries for ion-trap and control-electronics fabrication on 300 mm wafers and with Monarch Quantum for integrated photonics engines. Funding supports scaling fault-tolerant trapped-ion systems and building a domestic supply chain.
All three deals include transfer limits, registration rights, and voting restrictions on the shares held by the Department of Commerce.
Background & Context
The CHIPS and Science Act created a Research and Development Office within the Department of Commerce to reduce reliance on foreign supply chains and advance U.S. quantum-computing hardware.
Data & Statistics
| Company | Award | Initial Disbursement | Share Issuance |
|---|---|---|---|
| Rigetti Computing | $100 M | $43.9 M | 7,739,938 @ $12.92 |
| D-Wave Quantum | up to $100 M | $53.55 M (after Sep 4) | 7,095,721 @ $14.093 |
| Quantinuum | $100 M | – | – |
Both Rigetti and D-Wave saw pre-market price gains of roughly 5-7 % after the announcements, with analysts maintaining Buy consensus and price targets of $32 (Rigetti) and $38.78 (D-Wave).
Official Statements & Responses
- “We are proud to be selected by the U.S. government to accelerate R&D and progress against our roadmap to deliver commercially viable quantum computing capabilities.” — Dr. Subodh Kulkarni, Rigetti CEO
- “GlobalFoundries is proud to partner with Quantinuum to help scale their trapped-ion technology.” — Tim Breen, CEO, GlobalFoundries
Conflicting Reports & Gaps
The exact size of the government’s equity stakes was not disclosed. Estimates suggest roughly 2 % for Rigetti and 1.5 % for D-Wave. Details on the timing of later milestone payments beyond the initial tranche after September 4 remain unavailable.
Verbatim Quotes
- “The road to large-scale, trapped-ion quantum computers relies on moving away from complex, sprawling optical setups to scalable, reliable integrated photonics engines,” — Dr. Timothy Day, CEO, Monarch Quantum
- “Addressing critical scalability obstacles provides us with the chance to revolutionize this sector,” — Dr. Subodh Kulkarni, Rigetti CEO
What’s Next
Milestone-based payments will be released as each company meets technical targets: completing Rigetti’s miniaturized readout electronics, delivering D-Wave’s 100,000-qubit annealing platform, and scaling trapped-ion wafer production for Quantinuum. The Department of Commerce retains oversight, and the minority equity positions remain non-controlling unless amended. Investors and policymakers will monitor tranche releases and progress reports to gauge the impact of the funding on large-scale quantum computing development.
