D-Wave Quantum shares surge after $100 million CHIPS Act funding and new institutional buys

D-Wave Quantum Inc. (NYSE: QBTS) received up to $100 million in funding linked to the U.S. CHIPS Act, a move the company highlighted as part of a roadmap toward 100 logical qubits by 2032. The announcement helped lift the stock about 35%, with the price trading near $24.65 and a market capitalization of roughly $9.1 billion.

Institutional investors added to the buying momentum. Tempo Wealth LLC took a new position worth about $774,000, while other funds such as Root Financial Partners, Kemnay Advisory Services, EverSource Wealth Advisors, McGuire Capital Advisors and Ancora Advisors each purchased new stakes ranging from $28,000 to $31,000 during the fourth quarter. Overall, institutional ownership of D‑Wave’s shares sits at about 42%.

The company also reported quarterly results on May 12, posting a loss of $0.05 per share on revenue of $2.86 million, missing analysts’ revenue expectations. Analysts remain cautiously optimistic, citing the CHIPS Act backing and recent product developments, including the world’s first gate‑model quantum simulator for error‑aware programming.