Infleqtion Inc. (NYSE:INFQ) is one of the 10 Stocks With Stunning Double-Digit Gains.
Infleqtion soared by 31.4 percent week-on-week, as investors gobbled up its shares after earning the backing of the US government for the development of quantum computers capable of solving the world’s most pressing problems, among others
Earlier in the week, Infleqtion Inc. (NYSE:INFQ) was named among the nine firms set to receive incentives from the Department of Commerce’s $2.013 billion funding incentives. The listed firm alone will receive will receive $100 million to help develop the underlying engineering systems and integration requirements for large-scale neutral-atom-based quantum computers and architectures, including high-powered optical systems, novel readout, and error correction systems. “Quantum computing is emerging as a foundational technology for economic competitiveness, technological leadership, and national security. This investment reflects the transformative potential of quantum innovation, and we’re honored to work with the Department of Commerce to accelerate US leadership in quantum computing,” Infleqtion Inc. (NYSE:INFQ) CEO Matt Kinsella said.
Apart from Infleqtion Inc. (NYSE:INFQ), other companies also include Rigetti, D-Wave, Atom, Diraq, PsiQuantum, and Quantinuum. Meanwhile, chip manufacturers GlobalFoundries and IBM also received financial incentives, with the latter taking up the largest slice at $1 billion, followed by the former at $375 million. While we acknowledge the potential of INFQ as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk.