The Trump Administration Sinks Billions into Nine Quantum Companies
Yahoo Finance • • business
Key Points:
- The Trump Administration announced $2 billion in grants to support nine quantum-computing companies, boosting their stock prices and signaling strong federal backing for the emerging industry.
- IBM’s quantum spin-off “Anderon” received $1 billion from the Department of Commerce in exchange for a minority equity stake, causing IBM shares to rise over 8%.
- Other recipients include GlobalFoundries ($375 million), D-Wave Quantum, Rigetti Computing, Infleqtion ($100 million each), and startups like Diraq and PsiQuantum, which recently secured a $1 billion Series E funding round.
- The funding originates from the CHIPS Act signed by President Biden in 2022, with the federal government taking small equity stakes in these firms to foster growth in quantum computing technology.
- Quantum computing has gained strategic importance, particularly in defense, as evidenced by the Pentagon’s creation of a dedicated “Quantum and Battlefield Information Dominance” category and a record $1.5 trillion FY27 defense budget supporting the sector’s expansion.