US Federal Funding Propels D‑Wave Quantum Shares Up Nearly 50%

The U.S. Department of Commerce announced a $2 billion investment in the quantum industry under the CHIPS and Science Act, with D‑Wave Quantum receiving a letter of intent for a $100 million equity investment. The announcement triggered an immediate rally, pushing D‑Wave’s stock up about 33% in a single day and nearly 49% over the month of May.

Earlier in May the company reported Q1 revenue of $2.9 million, an 81% year‑over‑year decline, but highlighted new system sales to Florida Atlantic University and an unnamed Fortune 100 firm. Analyst coverage remained upbeat, with several firms maintaining buy ratings and price targets around $40. A later dip saw the shares fall 7.8% in mid‑day trading, reflecting normal market adjustments after the rapid gains. A survey cited by D‑Wave indicated that 41% of large UK enterprises expect quantum computing to generate more than £100 million in value within a year, underscoring growing enterprise interest.