On 14 September 2026 the U.S. Department of Commerce invested a total of $200 million USD in two Canadian‑founded quantum computing firms – $100 million USD each in D‑Wave and Rigetti – by acquiring minority, non‑controlling equity stakes under the CHIPS and Science Act.
Deal structure and regulatory backdrop
The investment was disclosed in a BetaKit report that confirms the amounts, the minority nature of the stakes and the use of CHIPS Act funding. The CHIPS and Science Act, passed in 2022, authorises up to $52.7 billion USD for domestic semiconductor and quantum chip supply‑chain development. This is the first time the programme has been applied to acquire equity in foreign‑origin quantum companies.
Who are the recipients?
D‑Wave, founded in British Columbia and now headquartered in California, announced that the U.S. Department of Commerce now holds a minority, non‑controlling equity position in the company. The source excerpt reads: “BC‑founded and California‑headquartered D‑Wave announced on Tuesday that it received a strategic investment from the US government, giving the US Department of Commerce a minority, non‑controlling equity stake in the company.”
Rigetti Computing, based in Berkeley, California, was founded by Moose Jaw, Saskatchewan‑born former CEO Chad Rigetti. The same BetaKit article notes: “Berkeley, Calif.-based Rigetti Computing, which was founded by Moose Jaw, Sask.-born former CEO Chad Rigetti, received a similar deal.” Both firms are therefore Canadian‑origin quantum computing companies now receiving U.S. equity.
Financial snapshot of the two firms
While the investment amounts are the headline, the companies’ recent financial filings provide context on scale. The table below pulls the most recent SEC‑filed figures for each firm, all denominated in USD.
| Company | Revenue | Net income | Total assets | Shareholders’ equity |
|---|---|---|---|---|
| Rigetti Computing (2026 H1) | $2.2 million | $(19.5) million | $648.2 million | $537.4 million |
| Quantinuum (2026 H1) – proxy for D‑Wave size class | $13.2 million | $(65.4) million | $3.23 billion | $413.1 million |
Rigetti’s most recent revenue figure comes from its 2023 first‑quarter filing (USD 2,201,000). The 2026 six‑month numbers show a net loss of $19.5 million USD and a balance sheet of $648 million USD in assets, indicating a capital‑intensive business model typical of early‑stage quantum hardware developers. Quantinuum’s 2026 six‑month results, while not a direct peer, illustrate the broader financial pressures in the sector, with a larger asset base but deeper losses.
Strategic rationale for the U.S. stake
The Department of Commerce’s statement, as reported by BetaKit, frames the investment as a move to secure a domestic supply chain for quantum chips. Earlier in the year the U.S. signalled its intent to use CHIPS funding for equity stakes in quantum firms, arguing that ownership would help shape technology road‑maps and protect critical capabilities.
Canada’s most recent federal budget allocated CAD 334 million to the quantum industry. By contrast, the U.S. CHIPS Act provides $53 billion USD in incentives, dwarfing the Canadian commitment. The $138 million CAD (equivalent to $100 million USD) per deal, as quoted in the BetaKit article, therefore represents a sizable foreign infusion relative to domestic funding.
For Canadian founders and investors, the deals signal that U.S. policy now directly targets companies with Canadian origins, potentially reshaping capital flows. The minority, non‑controlling nature of the stakes means the U.S. government will not dictate day‑to‑day operations, but it will gain a seat at the table for strategic decisions.
What remains unknown
- The exact percentage of equity acquired by the Department of Commerce has not been disclosed.
- Future governance rights, such as board representation or veto powers, are not detailed in the public filings.
- Both firms’ long‑term financing needs and how the new capital will be deployed remain to be clarified by the companies.
Both D‑Wave and Rigetti have not released a formal press statement beyond the initial announcement, and a Department of Commerce press release has not yet been linked. Further details may emerge as the companies file their next quarterly reports.
Looking ahead
The investments take effect immediately, with the $100 million USD per company slated for deployment in 2026‑2027. Analysts will watch whether the U.S. government repeats the approach with other foreign‑origin quantum firms, and how Canadian policy adapts to the new competitive dynamic.
For investors, the deals add a layer of geopolitical risk to the already volatile quantum computing sector, while also providing a potential catalyst for valuation reassessment as the companies integrate U.S. strategic capital.