Shares of quantum computing companies rocketed higher on Thursday after the Trump administration announced a large government commitment to the emerging technology sector in U.S. history.
The U.S. Department of Commerce signed nine Letters of Intent to award $2.013 billion in federal incentives through the CHIPS and Science Act, targeting companies developing quantum technologies across multiple hardware architectures. The news, first reported by the Wall Street Journal, sent the entire quantum computing sector soaring.
D-Wave Quantum (QBTS) led the pure-play names with a stunning 33.4% surge, while Rigetti Computing (RGTI) climbed 24%, Quantum Computing Inc. (QUBT) jumped 14%, and IonQ (IONQ) advanced 10%. Larger names also benefited, with IBM (IBM) rising roughly 7% and GlobalFoundries (GFS) gaining approximately 14%.
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IBM is set to receive the largest share of the package — $1 billion — to establish what it described as America’s first pure-play quantum chip foundry, under a new subsidiary called Anderon. GlobalFoundries is slated for $375 million, while D-Wave, Rigetti, and Infleqtion are each expected to receive roughly $100 million.
A notable condition of the deal: the federal government will take a minority equity stake in each participating company — a structure mirroring the administration’s previous arrangement with Intel.
Commerce Secretary Howard Lutnick framed the investment as a national security imperative. “The Trump administration is leading the world into a new era of American innovation,” he said.
The rally was further amplified by a beaten-down sector bouncing from sharp losses earlier in the week, supportive macro conditions, and strong first-quarter earnings recently reported across the group.
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