The only listed annealing vendor in our ledger, which makes its three rows a study in public-market instruments rather than venture staging.
This profile is a single-company view of the same public ledger that builds the global ranking. Figures are disclosed amounts, not valuations; an empty cell means the source did not publish a number.
| Headquarters / founded | Burnaby, BC · 1999 |
|---|---|
| Technology | quantum-computing · Annealing + gate model |
| Region / country | North America · Canada |
| Status | public · NYSE: QBTS |
| Cumulative disclosed funding | ~$900M (lower bound) |
| Global rank | #5 / 62 |
The values below are computed on this build from the live dataset. They are measurements, not commentary.
| Share of all tracked capital | 5.30% |
|---|---|
| Median, same technology | $85M |
| Median, same region | $471M |
| Nearest larger peer (same technology) | SandboxAQ · $950M |
| Nearest smaller peer (same technology) | Multiverse Computing · $875M |
| Published financing events | 3 |
| Cash disclosed across those events | $550M |
| Policy / public-market events | 1 / 2 |
| Unreviewed auto-collected events | 0 |
| Syndicated reports merged into these rows | 0 |
An equity offering of ~$150M is public-market cash, and for D-Wave Quantum it sits alongside a much larger ATM programme later in the same year. Because annealing hardware has been commercially sold for years, this financing is closer to working capital for a listed vendor than to startup runway. Our method keeps public-market rows in the total but refuses to treat them as priced venture rounds.
An at-the-market programme of ~$400M is an authorisation to issue shares over time, not a single cash injection on one date. For D-Wave Quantum, which already had a smaller equity offering earlier in 2025, the ATM explains why headline figures can look duplicated. We store the programme total with its announcement date and explicitly warn against summing it with the offering as two independent rounds.
Unlike the other four names in the November 2026 CHIPS correspondence, D-Wave is already a listed company with two public-market financings in our ledger. A non-binding letter of intent therefore does not change its access to capital; it mainly signals that annealing and its gate-model expansion are inside the policy perimeter. We record the notice at month precision with no amount, and we do not treat it as a precursor to a priced round.
Two of its rows are ATM or equity offerings. An authorised programme size is a ceiling, not cash received, so we record the announced figure without claiming the whole amount was drawn down.