D-Wave, Rigetti, Quantinuum land $100M each in CHIPS Act funding

D-Wave, Rigetti, Quantinuum land $100M each in CHIPS Act funding

Tue, September 8, 2026 at 4:42 PM GMT+3 2 min read

D-Wave Quantum, Rigetti Computing, and Quantinuum each finalized definitive agreements with the U.S. Department of Commerce on Tuesday for $100 million apiece in CHIPS and Science Act funding, with the federal government taking a minority, non-controlling equity stake in each company as a condition of the grants.

The three deals total $300 million and are structured as research-and-development grants under the CHIPS Act, the companies said. Shares of all three companies rose in premarket trading Tuesday, with Rigetti stock up 7.4% to $16.33, D-Wave stock up 5.4% to $17.48, and Quantinuum stock up 3.9% to $51.56.

D-Wave said it will use its award to develop a 100,000-qubit annealing system and a 10,000-qubit gate-model system capable of 100 logical qubits that can perform more than one million operations. The Commerce Department will receive a minority, non-controlling equity stake in D-Wave as a condition of the funding, the company said.

Rigetti said it will pursue three R&D projects aimed at compressing readout electronics into a miniaturized package, expanding cryogenic capacity through a new cryostat architecture, and developing fabrication capabilities for high-connectivity chip architectures. The Commerce Department will also receive a minority, non-controlling equity stake in Rigetti, the company said.

Quantinuum said its funding will support R&D and domestic quantum semiconductor manufacturing; the company will work with chipmaker GlobalFoundries on 300mm wafer fabrication of next-generation ion traps and with Monarch Quantum on the lasers and optical components that power its trapped-ion systems. Quantinuum said it was the only trapped-ion-based company to receive CHIPS R&D funding.

"This award is a validation of Quantinuum's leadership in trapped-ion quantum computing," said Dr. Rajeeb Hazra, President and CEO of Quantinuum, in a statement. "Together with our domestic partners, we are building the technology and supply-chain foundation needed to scale fault-tolerant systems and strengthen America's leadership in this strategically important field."

The three deals are part of a broader federal effort to award $2 billion across nine quantum computing companies under the CHIPS and Science Act, with the U.S. taking equity stakes in each recipient. IBM is the largest beneficiary of that broader package, with $1 billion allocated for a quantum chip foundry to be built in Albany, New York.