D-Wave signs LOI for USD 100 million CHIPS Act funding from Commerce Dept

D-Wave Quantum

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  • D-Wave Quantum signed a letter of intent for USD 100 million in proposed CHIPS and Science Act funding from the US Department of Commerce.
  • The award would be tied to D-Wave issuing USD 100 million in common stock to the Commerce Department, giving the US government an equity stake.
  • The funding would support development of superconducting annealing systems, including a targeted 100,000-qubit machine, plus a 10,000-qubit gate-model system.


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