India, May 21 -- Shares of D-Wave Quantum Inc. (QBTS) are rising around 23 percent in Thursday morning trading after the company announced a Letter of Intent for $100 million of proposed funding under the U.S. CHIPS and Science Act, which is administered by the U.S. Department of Commerce.
The company's shares are currently trading at $23.79 on the New York Stock Exchange, up 23.47 percent. The stock opened at $21.76 and has climbed as high as $24.78 so far in today's session. Over the past year, it has traded in a range of $12.75 to $46.75.
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