D-Wave Quantum (QBTS) Stock: NSF Grant Adds to Federal Backing

TLDR

• D-Wave Quantum secured a $1.6 million grant from the National Science Foundation through its National Quantum Virtual Laboratory program.
• The funding supports D-Wave’s role in the ERASE project, which focuses on fault-tolerant quantum computing technology.
• More than 24 companies, including IonQ, Nvidia, and Quantinuum, are involved in related NSF-backed quantum initiatives.
• QBTS stock is down 8.9% in 2026 after more than tripling in 2025, while peers IonQ and Rigetti have moved differently this year.
• D-Wave is shifting focus toward gate-model computing alongside its traditional quantum annealing approach.

D-Wave Quantum is picking up fresh support from Washington. The company announced Tuesday it has been selected for a $1.6 million grant from the National Science Foundation.

D-Wave Quantum Inc., QBTS

The money comes through the NSF’s National Quantum Virtual Laboratory program. This program brings together researchers, industry players, and government agencies to develop and commercialize quantum technology.

The grant ties into D-Wave’s ongoing role in a project called ERASE. That stands for Erasure Qubits and Dynamic Circuits for Quantum Advantage.

ERASE focuses on building foundational technology for fault-tolerant quantum computing. It was one of six pilot initiatives chosen by the NSF more than a year ago.

Last week, the NSF added another $4 million to push the project into its next phase. The agency also picked five research teams to design experimental quantum networking technology.

Quantum networking is seen as the next big step for the industry. Many view it as a building block toward a future quantum internet.

A Crowded Field of Partners

D-Wave isn’t working alone here. More than 24 companies have joined these NSF-backed initiatives to help scale the technology.

That list includes IonQ, Nvidia, and Honeywell-backed Quantinuum, which went public earlier this month. The federal backing spans across the quantum computing industry, not just D-Wave.

This isn’t D-Wave’s first nod from the government either. The company was picked for a Commerce Department initiative back in May, where quantum developers swapped equity stakes for federal funding.

Just last week, President Trump signed two executive orders aimed at speeding up quantum systems development. One calls for a research-ready quantum computer by 2028. The other sets a 2031 deadline for government-wide migration to post-quantum cryptography.

Stock Performance Tells a Different Story

The timing matters. D-Wave is in the middle of a shift toward gate-model computing, a different approach than the quantum annealing method that built its reputation.

QBTS stock has had a rough 2026 so far, dropping 8.9% after more than tripling in 2025. IonQ is up 20% this year, while Rigetti Computing has fallen 12%.

D-Wave was last year’s standout, jumping 211% compared to IonQ’s 7.4% gain and Rigetti’s roughly 45% rise. That left D-Wave with less room to climb in 2026.

IonQ’s better run this year comes as investors get pickier about quantum stocks. They’re starting to separate companies with real revenue growth from those still running on hype.

D-Wave’s latest quarterly revenue fell 81% year-over-year. CEO Alan Baratz has said results will stay “lumpy” given the one-time nature of system sales.

Bookings have picked up, though, which the company points to as a sign of a growing long-term backlog. At its latest investor day, D-Wave management said system sales were starting to add more to overall growth, alongside steady income from its quantum-computing-as-a-service offering.

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