D-Wave Quantum Inc. finalized an agreement with the U.S. Department of Commerce giving it access to up to $100 million in CHIPS and Science Act funding. The definitive award, which follows a previously announced letter of intent, will support research and development for the company’s annealing and gate-model quantum-computing technologies. D-Wave plans to develop a 100,000-qubit annealing system for optimization, materials simulation, blockchain and artificial-intelligence applications, alongside a 10,000-qubit gate-model system targeting 100 logical qubits and more than 1 million quantum operations. Commerce will receive a minority, non-controlling equity stake as a condition of the funding. D-Wave shares climbed more than 4.5% on Tuesday and traded near $16.96 in premarket dealings, though they remained below key moving averages.