The grant is small and non-dilutive, providing validation but no near-term revenue catalyst. Monitor for progress on the $100 million CHIPS Act funding LOI, which would be a more material catalyst. The stock's recent volatility (historical T+5 moves of -11% to +12% on neutral filings) suggests limited predictable price impact from this announcement alone.
Price Chart
Executive Summary
D-Wave Quantum Inc. announced it has been selected to receive a $1,566,250 grant from the U.S. National Science Foundation (NSF) through the National Quantum Virtual Laboratory (NQVL) program. The grant supports D-Wave's role as a key industry partner in the ERASE project, focused on developing foundational technologies for fault-tolerant quantum computing, and builds on a prior $100 million CHIPS and Science Act Letter of Intent. This is a modest, non-dilutive funding event that validates D-Wave's technology positioning but does not change the company's near-term financial trajectory.
Key Facts
- D-Wave selected to receive a $1,566,250 grant from the NSF's National Quantum Virtual Laboratory (NQVL) program.
- The grant supports D-Wave's role as a key industry partner in the ERASE project, led by Yale University.
- D-Wave will provide access to its superconducting dual-rail gate-model quantum computing resources through its subsidiary Quantum Circuits, LLC.
- The award moves ERASE into the second phase of the NQVL program.
- The filing references a prior announcement of a $100 million Letter of Intent for proposed CHIPS and Science Act funding.
- No financial statements, revenue guidance, or material operational metrics were provided in this filing.
Financial Impact
Non-dilutive grant of $1,566,250; immaterial relative to an $8.3B market cap.
Risk Factors
- The $1.57M grant is immaterial relative to the $8.3B market cap and does not change the company's cash runway or revenue outlook.
- The $100 million CHIPS Act funding remains a non-binding Letter of Intent and may not materialize.
- D-Wave remains pre-revenue at scale with no reported financials in this filing; the stock is subject to high retail-driven volatility.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001907982-26-000093 |
| Document: d-wavetoreceive15milliongr.htm | 0001907982-26-000093 |
| Document: 0001907982-26-000093-index-headers.html | 0001907982-26-000093 |
| Document: 0001907982-26-000093-index.html | 0001907982-26-000093 |
| Document: 0001907982-26-000093.txt | 0001907982-26-000093 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 8-K | $16.41 $17.11 | ▲ +4.27% | ▲ +3.45% | $16.36 (−0.27%) |
Sep 8, 2026 24d ago | 8-K | $17.67 $16.83 | ▼ −4.75% | ▼ −4.09% | $16.36 (−7.39%) |
Aug 25, 2026 5w ago | 8-K | $17.51 $16.49 | ▼ −5.83% | ▼ −5.71% | $16.36 (−6.54%) |
Aug 18, 2026 6w ago | 8-K | $19.53 $19.35 | ▼ −0.92% | ▼ −0.72% | $16.36 (−16.21%) |
Aug 17, 2026 6w ago | 8-K | $20.87 $18.68 | ▼ −10.49% | ▼ −9.30% | $16.36 (−21.59%) |
Aug 6, 2026 8w ago | 8-K | $19.41 $20.90 | ▲ +7.70% | ▲ +6.49% | $16.36 (−15.67%) |
Aug 3, 2026 8w ago | 8-K | $19.98 $16.21 | ▼ −18.87% | ▼ −20.90% | $16.36 (−18.09%) |
Jul 27, 2026 9w ago | 8-K | $19.51 $18.08 | ▼ −7.33% | ▼ −8.40% | $16.36 (−16.12%) |
Jul 24, 2026 10w ago | 8-K | $16.21 $17.98 | ▲ +10.92% | ▲ +10.55% | $16.36 (+0.96%) |
Jul 14, 2026 11w ago | 8-K | $18.95 $16.72 | ▼ −11.77% | ▼ −10.47% | $16.36 (−13.64%) |
US Market Status
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