D-Wave Quantum Inc. will receive up to $100 million from the U.S. Department of Commerce to advance its quantum computers, D-Wave says. The funding, secured through the U.S. CHIPS and Science Act, will support development of both a 100,000-qubit annealing system and a 10,000-qubit gate-model computer. “From Seoul to Como to Washington, we are seeing growing interest in D-Wave’s differentiated dual-platform approach,” said Dr. Alan Baratz, CEO of D-Wave, as the company also reported a 21% year-over-year increase in third quarter revenue to $4.5 million.
D-Wave Secures $100M CHIPS Act Funding for Quantum Development
D-Wave will gain access to up to $100 million in funding from the U.S. Department of Commerce, contingent upon meeting pre-defined milestones, to accelerate development of its quantum computing systems. The financial commitment, stemming from the CHIPS and Science Act, specifically targets the creation of a 100,000-qubit annealing quantum computer intended for applications spanning optimization, materials simulation, blockchain technology and artificial intelligence.
Funding will also support the construction of a 10,000-qubit gate-model quantum computer designed to achieve 100 logical qubits capable of executing over one million operations, with a focus on quantum chemistry and quantum AI. Remaining Performance Obligations also reflect this momentum, reaching $38.3 million, a 1,221% year-over-year increase. The application optimized tracking area lists across multiple network areas, reducing daily peak location registration signals by 65.3% and paging signals by 7.0% across 333 base stations, improving operational efficiency and lowering network signaling load.
This optimization was completed in approximately five minutes, with the results directly integrated into DOCOMO’s network planning and daily operations. Alan Baratz, CEO of D-Wave, stated this. Further expanding its reach, D-Wave delivered a 4,400+ qubit Advantage2 annealing system to Villa Saporiti in Como, Italy, according to the company. Funded by Swiss Quantum Technology SA, this installation will provide European researchers, universities and businesses with access to production-grade annealing quantum computing, supporting the Q-Alliance’s goals of accelerating application development and encouraging a skilled quantum workforce.
Simultaneously, D-Wave has been advancing its gate-model capabilities with the launch of a beta program for its quantum computing simulator. This simulator, built on D-Wave’s dual-rail superconducting gate-model technology, allows beta participants, including BBVA, FirstQFM, Florida Atlantic University and the Jülich Supercomputing Centre, to experiment with error-aware programming in preparation for the company’s forthcoming gate-model systems.
D-Wave’s technology roadmap also benefits from an extended partnership with SkyWater Technology, secured through a multi-year agreement for specialized semiconductor process development and manufacturing. A proof-of-technology project using D-Wave’s annealing technology at SkyWater’s fab demonstrated a reduction in lot delays of up to 30%, improving factory throughput and clearing the way for a proof-of-concept incorporating additional operational constraints.
Strategic partnerships with CG I and LG CNS further broaden D-Wave’s commercial reach, integrating its quantum computing platforms into advanced technology services portfolios and enterprise optimization initiatives in South Korea and beyond, the firm reports. “Our triple-digit increase in year-to-date bookings and robust pipeline reinforce our confidence in the opportunity ahead,” Baratz stated.
“We are expanding our commercial reach and executing on both our annealing and gate-model roadmaps with a clear objective: to lead this industry in technical and scientific innovation, measurable customer value and growth.” Recognition from Gartner, naming D-Wave as a Market Shaper in the Emerging Market Quadrant for Quantum Computing, emphasises the company’s position within the evolving quantum landscape. Recent additions to D-Wave’s board of directors, Bernard Gavgani and Kevan Krysler, bring expertise in enterprise technology strategy and public company financial reporting, respectively, further strengthening the company’s leadership. As of September 30, 2026, D-Wave reported consolidated cash and marketable investment securities totaling $503.4 million, providing a solid financial foundation for continued innovation and expansion.
From Seoul to Como to Washington, we are seeing growing interest in D-Wave’s differentiated dual-platform approach and a determination to put our quantum computing technology to work today.
Dr. Alan Baratz, CEO of D-Wave
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