On September 23, D-Wave Quantum Inc. rose 5.41% overnight, trading at $18.53 per share, with turnover of $11,400.

The rise comes amid sustained momentum in the quantum computing sector following a series of CHIPS and Science Act funding milestones. Most recently, IBM's quantum manufacturing subsidiary Anderon completed a $1 billion government subsidy agreement for its quantum processor fabrication facility in New York, with IBM committing an additional $1 billion of its own. The announcement also confirmed that D-Wave Quantum and Rigetti Computing have already received their respective $100 million CHIPS Act subsidies.

D-Wave finalized its agreement with the US Department of Commerce earlier in September, securing up to $100 million to support R&D of its annealing and gate-model quantum technologies, including systems targeting 100,000 and 10,000 qubits respectively. As a condition, the Commerce Department received a minority, non-controlling equity interest in D-Wave. The US government has committed a total of $2 billion across nine companies to develop the domestic quantum industry, reinforcing long-term sector tailwinds.

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