🟢 QBTS is trading 22.2% up today on proposed $100M CHIPS Act funding commitment

QBTS is trading 22.2% up at $23.59 after announcing a proposed $100 million funding commitment from the U.S. Department of Commerce under the CHIPS and Science Act.

• The capital is intended to accelerate D-Wave’s development of both annealing and gate-model quantum computing technologies.
• Investor sentiment is bolstered by the potential for government-backed support, which provides a significant catalyst despite broader market indices trading slightly lower at the open.