Bond.az reports that D Wave Quantum Inc stock surged +20.7% in mid-day trading to reach $31.08, driven by the continued momentum from a landmark federal funding announcement that has electrified the entire quantum computing sector.
On Thursday, D-Wave and the U.S. Department of Commerce signed a Letter of Intent for $100 million in proposed funding under the CHIPS and Science Act, with D-Wave set to issue $100 million in shares of its common stock to the Department of Commerce as part of the arrangement.
The broader program involves the Trump administration awarding $2 billion in grants to nine quantum computing companies while taking U.S. government equity stakes in each. D-Wave's stock began moving even before the official announcement and then rocketed higher — and continues to climb again today.
The planned funding would advance D-Wave's superconducting annealing and gate-model technology development at its U.S. research and development sites. This government validation arrives alongside a notable underlying business shift: while recognized revenue fell to $2.9 million in early 2026, total bookings surged nearly 2,000% to a record $33.4 million, driven in part by a $10 million Quantum Computing-as-a-Service agreement with a Fortune 100 company.
Analysts maintain an average 12-month price target of $35.17 for the stock, with 13 analysts recommending a buy and none suggesting a sell. Shares of Rigetti Computing, D-Wave Quantum, and Infleqtion surged more than 30% on Thursday, adding nearly $4.9 billion in combined market value in a single session, and climbed further in overnight trading after the Trump administration announced $100 million grants for each company.
The funding strategy reflects the government's view of quantum computing as a vital area for both economic and national security. The broad market provided a constructive backdrop, with the S&P 500 adding +0.6%, the Dow Jones rising +0.8%, and the NASDAQ gaining +0.6% during today's session.
D-Wave shares have gained an astounding 66% in just three days of trading, as the combination of direct federal financial backing, a sector-wide re-rating of quantum computing assets, and a positive macro environment converged to create one of the stock's most powerful short-term moves in recent memory. Some traders cautioned that the surge in valuations appeared disproportionate to the size of the grants, and that risks tied to early-stage development, unproven commercial viability, and elevated short interest remained in place — suggesting the stock's near-term trajectory will hinge on whether D-Wave can convert its government-backed momentum into tangible commercial progress.
