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    D-Wave Quantum (QBTS) Lands CHIPS Funding As Fair Value Hopes Stay In Focus

    Simply Wall St·09/09/2026 19:28:12
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    What the new CHIPS Act funding means for D-Wave Quantum

    D-Wave Quantum (QBTS) has signed a definitive agreement with the U.S. Department of Commerce that gives the company access to up to US$100 million in CHIPS and Science Act funding.

    The arrangement supports research on next generation annealing and gate model quantum computers, while granting the U.S. government a minority, non controlling equity stake that ties taxpayer returns directly to D-Wave Quantum’s future performance.

    Investor focus has quickly shifted from earlier selling pressure and concerns about losses to the fresh support signaled by the CHIPS agreement. D-Wave Quantum’s 1-day and 7-day share price returns of 6.57% and 6.83% contrast with a 30-day decline of 14.88% and a year-to-date fall of 37.18%. At the same time, the 1-year and 3-year total shareholder returns of 9.41% and around 17x suggest that, over longer stretches, patient holders have seen very different outcomes from short term traders.

    Seize this CHIPS funding moment around D-Wave Quantum and scan a curated group of quantum and related enablers with the 25 quantum computing stocks.

    D-Wave Quantum now has fresh public backing, rising bookings and a long R&D roadmap, yet the share price is still down sharply this year. Is this a strong platform that is temporarily mispriced, or already fully valued on hope alone?

    Most Popular Narrative: 49.9% Undervalued

    Against the last close of $17.67, the most followed narrative sets a fair value of $35.24 for D-Wave Quantum, implying a steep valuation gap that rests on ambitious long term assumptions.

    Growing global adoption of quantum optimization for high value logistics, manufacturing and defense workflows, evidenced by production grade deployments such as BASF, Davidson and North Wales Police, should expand recurring QCaaS usage and may support sustained double digit revenue growth.

    Read the complete narrative.

    Want to understand why this framework supports such a high fair value for D-Wave Quantum? The story leans heavily on rapid top line compounding, rising margins and a future earnings multiple that assumes investors keep paying up for this growth profile.

    Result: Fair Value of $35.24 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    Still, the D-Wave Quantum story hinges on turning lumpy system deals into steadier QCaaS usage and on rising R&D spend eventually narrowing sizeable net losses.

    Find out about the key risks to this D-Wave Quantum narrative.

    Next Steps

    Sitting with this mix of optimism and concern around D-Wave Quantum, it makes sense to move quickly and test the numbers against your own expectations using the 1 key reward and 3 important warning signs.

    Looking for more investment ideas beyond D-Wave Quantum?

    If you only focus on D-Wave Quantum, you risk missing other opportunities that might fit your goals even better, so broaden your search with curated screeners.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.