On September 8, D-Wave Quantum Inc. rose 6.69% in regular trading, trading at $17.985/share, with turnover of approximately $52.51 million.

The rally was driven by the company's announcement that it has finalized an agreement with the US Department of Commerce, granting access to up to $100 million in CHIPS and Science Act funding. The funds will support research and development of D-Wave's annealing and gate-model quantum technologies, including next-generation systems targeting 100,000 and 10,000 qubits, respectively. As a condition for the funding, the Commerce Department will receive a minority, non-controlling equity interest in D-Wave.

The government funding deal marks a significant milestone for D-Wave, which has been actively expanding its commercial partnerships. In late July, the company expanded its collaboration with AT&T to deploy quantum computing in network operations, and in early August, it signed an agreement with Nasdaq Verafin to explore quantum-enhanced financial crime detection. BMO Capital also initiated coverage with an outperform rating in August, with a consensus analyst price target of $35.73.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)