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D-Wave Quantum Inc. (NYSE:QBTS) is one of the 10 Stocks With Shocking Overnight Gains.

D-Wave soared by 33.37 percent on Thursday to close at $25.74 apiece, as investor sentiment was bolstered by the US government’s $2 billion in support to quantum and chipmakers, with the company named as one of the few beneficiaries.

The Department of Commerce announced on the same day that it will shell out $2 billion in financial backing to nine companies, including seven quantum computing firms and two in the chip sector.

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D-Wave Quantum Inc. (NYSE:QBTS) was among the selected firms, receiving $100 million in planned funding to support critical advancements in annealing and gate-model superconducting quantum computing systems, including qubit counts, error rates, and coherence through advanced dielectric material optimization, interface control, and high-density advanced packaging.

Other companies include Rigetti, Atom, Diraq, Infleqtion, PsiQuantum, and Quantinuum. In the chip sector, IBM and GlobalFoundries won a $1 billion and $375 million in funding awards.

The program is aimed at supporting companies critical to the development of quantum computers in a bid to solve the world’s most challenging problems.

“We believe that the US government’s strategic investment in D-Wave would advance the country’s global leadership position in quantum computing,” D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz said.

“The award would accelerate D-Wave’s ability to scale quantum innovation domestically, expedite key fabrication processes, and deliver real-world quantum applications to our global customers today. We see this as a transformative moment for not just D-Wave, but also for quantum computing and the United States,” he noted.

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