Stocks
Trump Admin Awards $2B in Grants to Quantum Computing Firms, Takes Equity Stakes
The U.S. Department of Commerce will award $2 billion in grants to nine quantum computing companies, including IBM, which will account for half of the total funding.
The deals also include U.S. government equity stakes in each company, with the Trump administration receiving a minority stake in exchange for the investments.
IBM shares rose over 7% at the time of writing, while GlobalFoundries, Rigetti Computing Inc., D-Wave Quantum Inc., and Infleqtion saw gains between 10-20%.