The U.S. Commerce Department would become a shareholder in the companies—including Burnaby, B.C.-founded D-Wave Quantum—in exchange for funding awards of US$10 million, sources told The Wall Street Journal. D-Wave declined to comment to The Logic. The firm’s stock traded up as much as 22.5 per cent on Thursday. (The Wall Street Journal, The Logic)
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The U.S. Commerce Department would become a shareholder in the companies—including Burnaby, B.C.-founded D-Wave Quantum—in exchange for funding awards of US$10 million, sources told The Wall Street Journal. D-Wave declined to comment to The Logic. The firm’s stock traded up as much as 22.5 per cent on Thursday. (The Wall Street Journal, The Logic)
Talking point: The Trump administration has taken stakes in chipmaker Intel, as well as Canadian critical minerals miners Trilogy Metals and Lithium Americas, as it buys into strategic industries. The stocks of D-Wave and other quantum firms have rollercoastered this year, driven up by breakthrough claims and big sales, and down by Nvidia CEO Jensen Huang’s skepticism. D-Wave, now headquartered in the U.S., isn’t among the firms selected for the U.S. Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative, through which firms could receive up to US$316 million in funding and land government contracts.
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