Nine quantum firms secure government funding in exchange for minority stakes, driving shares up over 20% in some cases.
Shares of quantum computing firms including D-Wave Quantum (QBTS), Rigetti Computing (RGTI), and Infleqtion (INFQ) rallied sharply after the U.S. Department of Commerce agreed to distribute $2 billion in grants. The funding, tied to equity stakes, aims to accelerate research and development in the sector.
IBM (IBM) will receive $1 billion to build a quantum chip foundry, while Rigetti secured $100 million over three years. The initiative mirrors prior government deals with Intel (INTC) and MP Materials (MP), where funding was exchanged for ownership interests.
The announcement follows a broader Trump administration strategy to invest directly in critical technology firms. Quantum stocks surged, with some gaining over 20% in Thursday trading.