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D-Wave Quantum reaches definitive pact for 100 million dollar U.S. funding boost

D-Wave Quantum reaches definitive pact for 100 million dollar U.S. funding boost
D-Wave wins 100 million dollar pact

D-Wave Quantum has entered into a definitive agreement with the U.S. Department of Commerce that will provide the company access to up to 100 million dollars in funding.

The funding is part of the U.S. CHIPS and Science Act and is aimed at accelerating U.S. leadership in quantum computing by supporting D-Wave Quantum's research and development efforts. This development signals an important step forward for quantum technology in the U.S.

D-Wave Quantum recently introduced a dual rail architecture designed to improve error correction in scalable quantum computing systems, according to a prior report (link). The company has also demonstrated that its quantum computers can enhance generative AI applications in drug discovery (link). Shares of D-Wave Quantum last traded at $16.44.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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