U.S. to Award Quantum Computing Firms $2 Billion and Take Equity Stakes: Report
The Commerce Department would fund the deals with 2022 Chips and Science Act money, and shares rose 7% to 19% in premarket trading.
- The Trump administration announced plans to award $2 billion in grants to nine quantum computing companies, with the government taking equity stakes in the firms.
- Funding originates from the 2022 Chips and Science Act, as the White House targets quantum computing and artificial intelligence to strengthen economic and security interests.
- Allocations include $1 billion to IBM and $375 million to GlobalFoundries. The remaining firms, including D-Wave Quantum, Rigetti Computing, and Infleqtion are expected to receive $100 million each, while startup Diraq may receive $38 million.
- Shares of these companies surged between 7% and 19% in premarket trading, as Commerce Department officials cited increased confidence in quantum technology reaching commercial viability.
- A new executive order centered on quantum computing is reportedly being drafted by the White House, following Washington's practice of securing minority stakes in firms like Vulcan Elements and Materials.
81 Articles
81 Articles
Why Does Quantum Computing Stock Keep Going Up?
Key PointsThe U.S. Department of Commerce award $2 billion in grants to quantum computing companies.It will award $0 of grants to Quantum Computing Inc.10 stocks we like better than Quantum Computing › Yesterday, as you've probably heard, The Wall Street Journal reported on a Trump Administration plan to award $2 billion in grants to nine quantum computing companies -- none of which is named Quantum Computing (NASDAQ: QUBT). It's perhaps unsurpr…
The US government is spending $2 billion on quantum computing, while taking stock in the companies it funds
IBM is set to receive the largest share of the funding, with $1 billion allocated to the company. Long seen as a frontrunner in quantum development, IBM has been building out both hardware and software systems designed to handle quantum workloads. As part of the agreement, the company will invest...Read Entire Article
IBM adds market value of Adidas after Trump’s quantum computing push
Quantum computing stocks surged after the Trump administration announced more than $2 billion (€1.7bn) in federal support for the sector. IBM received the largest investment and shares rose over 12% adding more than $27 billion (€23.2bn) in market capitalisation.
Sydney Morning Herald
‘Huge validation’: Trump administration backs Aussie quantum tech
Two of Australia’s most prominent quantum names have been drawn into the Trump administration’s growing portfolio of strategic technology companies.
U.S. Invests in Quantum
The U.S. Department of Commerce has awarded $2 billion to IBM and other American quantum computing companies to bolster the nation’s dominance in the industry. “The CHIPS incentive from the DoC will support the research and development efforts of a new IBM company: Anderon, which will be America’s first pure-play quantum foundry,” IBM said in a statement. “This initiative represents one of the most significant commitments by the U.S. Government …
Coverage Details
Bias Distribution
- 55% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
