D-Wave Quantum Inc.

D-Wave Quantum Inc. announced it has been awarded a $1,566,250 grant from the U.S. National Science Foundation (NSF) through its National Quantum Virtual Laboratory (NQVL) program. This funding will support D-Wave's participation as a key industry partner in the ERASE project, led by Yale University, which aims to develop foundational technologies for fault-tolerant quantum computing. The award underscores continued U.S. government support for D-Wave's quantum computing technologies, following a recent Letter of Intent for $100 million in CHIPS and Science Act funding.

D-Wave Quantum Inc. announced its forthcoming gate-model quantum computing simulator, which is expected to be the first designed for error-aware programming. This simulator, built on D-Wave's dual-rail technology, will provide developers with visibility into errors and real-time control, enabling them to design more resilient quantum applications and prototype error-correction routines. Access to the simulator, offered through new quantum development bundles (Starter and Premium packages), is scheduled to begin in September 2026.

D-Wave Quantum Inc. hosted its inaugural Investor Day on June 1, 2026, detailing its advancements and strategic direction in quantum computing. The company emphasized its dual-platform approach, encompassing both annealing and gate-model quantum computers, and outlined ambitious roadmaps for scaling both technologies. Key highlights included the acquisition of Quantum Circuits Inc. to bolster gate-model development, potential significant funding from the U.S. CHIPS and Science Act, and a growing customer base with demonstrated use cases.

D-Wave Quantum Inc. announced a new gate-model roadmap designed to accelerate the development of commercial, fault-tolerant quantum computing. The roadmap targets 100 logical qubits capable of successfully performing over one million operations by 2032, leveraging D-Wave’s expertise in high-coherence dual-rail qubits and quantum error correction. Key milestones include delivering systems with significantly reduced error rates by 2028 and achieving 10 logical qubits by 2030. CEO Dr. Alan Baratz stated that their superconducting dual-rail architecture is a fundamentally different approach expected to redefine how quickly the technology becomes commercial.

D-Wave Quantum Inc. issued a response to recent claims that newly published classical simulation work has "overturned" its demonstration of quantum computational supremacy in quantum simulation. The company stated that these claims are inaccurate and not supported by the scientific record. D-Wave clarified that the new work does not reproduce the full scope of its peer-reviewed Science result, nor does it solve the hardest problem instances. CEO Dr. Alan Baratz affirmed that D-Wave's beyond-classical computation continues to hold up under careful scientific scrutiny, welcoming advances in classical methods but refuting claims of overturning their results.

D-Wave Quantum Inc. announced it has secured second-year funding for its Improved Materials for Superconducting Qubits with Scalable Fabrication (SQFab) project. The award, granted to D-Wave's subsidiary Quantum Circuits, LLC, comes from the Northeast Regional Defense Technology Hub (NORDTECH), a U.S. Department of War initiative. This project is one of four innovative programs collectively receiving over $25 million in second-year funding under the U.S. Microelectronics Commons program, aiming to advance superconducting qubit fabrication and next-generation microelectronics capabilities.

D-Wave Quantum Inc. announced it has signed a Letter of Intent for $100 million in proposed funding under the U.S. CHIPS and Science Act, administered by the Department of Commerce. This funding is intended to accelerate the development and scaling of D-Wave’s annealing and gate-model quantum systems at its R&D facilities. In connection with the final award, D-Wave would issue $100 million in common stock shares to the Department of Commerce. The funding and share issuance are contingent upon the execution of definitive award documents.

D-Wave Quantum Inc. filed a Form 8-K to correct an error in its previously filed Form 10-Q for the quarter ended March 31, 2026. The company stated that the cover page of the Form 10-Q incorrectly reported 366,737,601 outstanding shares of common stock as of May 11, 2026. The correct number of outstanding common stock shares as of that date was 367,269,074. Both the original and corrected figures exclude 3,176,096 exchangeable shares.

D-Wave Quantum Inc. completed the acquisition of Quantum Circuits for $538.5 million in cash and equity on January 20, 2026, aiming to enhance its gate-model quantum computing capabilities. For the first quarter of 2026, the company reported a significant decrease in revenue to $2.86 million and an increased net loss of $18.36 million. Cash and cash equivalents also saw a substantial decline to $338.2 million.

D-Wave Quantum Inc. reported record first-quarter 2026 bookings of $33.4 million, a nearly 2,000% increase year-over-year, and ended the quarter with $588.4 million in cash, up 93%. The company also announced the acquisition of Quantum Circuits, Inc., a developer of error-corrected superconducting gate-model quantum computing systems, which is expected to accelerate the delivery of scalable gate-model systems. Despite strong bookings, Q1 revenue decreased by 81% to $2.9 million, and net loss widened to $18.4 million.