On May 26, D-Wave Quantum declined 5.75% in regular trading, trading at $26.97/share, with trading volume of $4.72 billion. The pullback follows a sharp rally driven by the CHIPS and Science Act funding announcement.

On the news front, D-Wave previously announced it signed a preliminary memorandum of terms with the U.S. Department of Commerce to receive up to $100 million in funding under the CHIPS and Science Act, aimed at accelerating quantum computing R&D and commercialization. The catalyst propelled shares from approximately $19 on May 21 to nearly $30 by May 22, representing a substantial short-term gain. With the policy tailwind now fully priced in, profit-taking pressure emerged alongside lingering Q1 fundamental concerns, including significant revenue declines and widened net losses. However, the company reported record bookings of $33.4 million in Q1, up nearly 2,000% year-over-year, creating a bull-bear tug-of-war between near-term earnings weakness and longer-term commercial prospects.

D-Wave Quantum is a pioneer in quantum computing, providing full-stack solutions including quantum computing systems, software, and services, with a focus on commercial-grade quantum application deployment.

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