Movement Alert｜D-Wave Quantum Inc. Rises 5.35% in Pre-Market Trading, Boosted by U.S. DOE $215 Million Quantum Computing Initiative

Market Focus09-23 16:04

On September 23, D-Wave Quantum Inc. rose 5.35% in pre-market trading, trading at $18.37 per share, with turnover of approximately $1.197 million.

On the policy front, the U.S. Department of Energy's Office of Science recently published the Quantum Genesis Q competition solicitation, committing up to $215 million in federal funding to support teams building fault-tolerant quantum computers with at least 100 logical qubits, with a five-year project timeline. D-Wave is identified as one of the primary beneficiaries of this initiative. The competition follows an executive order signed in June directing the deployment of fault-tolerant quantum computers before 2028.

This marks the latest in a series of federal commitments to quantum computing. Earlier in September, D-Wave finalized an agreement with the U.S. Department of Commerce to access up to $100 million in CHIPS and Science Act funding for the development of its annealing and gate-model quantum technologies, including systems targeting 100,000 and 10,000 qubits. The Commerce Department will receive a minority, non-controlling equity interest in D-Wave as a condition for the funds.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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