U.S. Gets Minority Stakes in Some Quantum Computing Companies in $300 Million CHIPS Act Funding Deal

The U.S. Department of Commerce is allocating $300 million in CHIPS Act funding to three quantum computing companies, with D-Wave Quantum Inc. (QBTS, NYSE) receiving $100 million. The government will take minority equity stakes in each recipient, marking a rare direct investment structure in the sector.

QBTS shares rose 6.57% following the announcement, according to The Wall Street Journal. Rigetti Computing and Quantinuum each also received $100 million commitments under the same terms. The equity component distinguishes this CHIPS Act deployment from typical grant structures, giving taxpayers upside exposure to the companies' future performance.

The funding aims to accelerate domestic quantum computing capabilities as geopolitical competition intensifies around advanced computing technologies. D-Wave specializes in quantum annealing systems used for optimization problems in logistics, materials science, and artificial intelligence applications.

The minority stake structure suggests the Commerce Department negotiated favorable terms in exchange for the capital injection, potentially including board observation rights or anti-dilution provisions, though specific governance terms were not disclosed in the Journal report.