Trump's $2 Billion Quantum Computing Bet Lifts US Stocks Amid Iran Uncertainty
The US stock market climbed overnight on Thursday due to President Donald Trump's $2 billion investment in quantum computing stocks, outweighing concerns over a peace deal with Iran.
Nasdaq 100 futures led the gains, rising 0.35% higher, while Dow futures and S&P 500 futures were up 0.20% and 0.19%, respectively. Among the beneficiaries of the investment were IBM, which received about half of the funding, as well as Rocket Lab USA, Rigetti Computing Inc., D-Wave Quantum Inc., Infleqtion Inc., and NIO Inc.
The Trump administration's move is aimed at boosting the development of quantum computing technology in the US. However, hopes for a peace deal with Iran remain uncertain after Tehran reportedly stated that it plans to retain its enriched uranium stockpile within the country.