D-Wave Quantum Inc. (NYSE:QBTS) is one of the top mid-cap stocks to own for decades, according to hedge funds. On June 30, D-Wave Quantum Inc. (NYSE:QBTS) was selected to receive a $1.57 million grant from the US National Science Foundation.

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The $1.57 million grant supports the company's participation in ERASE, a project developing technologies for fault-tolerant quantum computing. The program brings together researchers and industry organizations to advance the dual-rail gate model for quantum computing hardware, software, and applications.

Under the terms of the agreement, D-Wave Quantum is to provide access to its dual-rail gate model quantum computing technology. Erase researchers can access D-Wave Quantum's platform through selected development interfaces.

D-Wave Quantum has already confirmed a letter of intent for $100 million in proposed CHIPS and Science Act funding to develop annealing- and gate-model quantum computing systems. The project is poised to extend the company's relationship with Yale University, which is also spearheading the ERASE program.

D-Wave Quantum Inc. (NYSE:QBTS) builds and delivers quantum computing systems, software, and cloud services designed to solve complex computational problems. It is the first commercial supplier of quantum computers and uses a dual-platform approach spanning both annealing and gate-model technologies.

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