IBM’s $10 billion quantum commitment and $1 billion CHIPS Act grant drive shares to $320, while IonQ and Rigetti retreat despite revenue growth.
IBM shares climbed 7% to $320 in early trading Monday, extending a 32% gain in May, the strongest monthly performance in nearly 24 years. The rally follows a $10 billion five-year commitment to quantum computing and a $1 billion federal CHIPS Act grant to develop a fault-tolerant quantum computer by 2029.
IonQ reported Q1 revenue of $64.67M, up 755% year-over-year, with full-year guidance of $260-270M, yet shares fell 4% to $69. Rigetti posted $4.4M in Q1 revenue and holds $569M in cash, but its stock declined 4% to $24. Both companies lag as capital flows toward IBM’s established quantum strategy.
The divergence highlights investor preference for IBM’s scale over speculative pure-play quantum stocks, despite strong revenue growth in the sector.