D-Wave signs LOI for $100M CHIPS Act funding; to issue stock to Commerce Dept.

D-Wave Quantum Inc.

LOI with U.S. Dept. of Commerce for $100M in proposed CHIPS and Science Act funding.
D-Wave would issue $100M in common stock to the Dept. upon closing definitive award docs.
Funding aims to accelerate development of 100,000-qubit annealing and 10,000-qubit gate-model systems.
R&D expansion planned at new Boca Raton, FL facility plus existing sites in CT and BC.
Award is subject to execution of final documents; non-binding LOI stage.

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