D-Wave Systems & Rigetti Computing

D-Wave Systems: D-Wave Systems will receive $100 million from the United States — United States Department of Commerce to focus on optimizing qubit counts and error rates. Its shares gained 14% following the announcement and rocketed higher by 66% in three days of trading.

Rigetti Computing: Rigetti Computing signed a letter of intent with the United States — United States Department of Commerce for up to $100 million in funding to accelerate superconducting quantum computing R&D, which will help the company tackle scaling bottlenecks and advance commercialization. Its shares gained 12% following the announcement.

D-Wave Systems: D-Wave's bookings surged nearly 2,000% year over year, and its AT&T deployment demonstrates commercial traction. However, reported revenue is minimal and cash burn is high.

Rigetti Computing: Rigetti benefits from a potential $100 million CHIPS Act funding letter of intent and strong cash position, but its revenue base is tiny and it faces dilution risk from the government deal.

D-Wave Systems: D-Wave secured a major expansion of its partnership with AT&T, demonstrating real-world quantum computing applications and boosting its stock price.

Rigetti Computing: Rigetti's shares gained on the broader quantum stock rally.

D-Wave Systems: D-Wave Systems is mentioned as a peer in the quantum computing sector, with its stock performance reflecting investor interest in the industry.

Rigetti Computing: Rigetti Computing is cited as another quantum computing company whose stock has seen significant fluctuations, indicating the volatile nature of the sector.