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Story summary
- The U.S. Department of Commerce finalized a CHIPS Act agreement giving D-Wave Quantum up to $100 million.
- The government will hold a non-controlling stake of 7,095,721 shares at $14.093 each.
- An initial $53,552,620 tranche is available now, with four milestone payments totaling $53.5 million.
- Funding will support a 100,000-qubit annealing platform and a 10,000-qubit gate-model processor.
- D-Wave shares rose 4.5-6.57% to about $17.67 after the announcement.
