The U.S. Department of Commerce has announced a $2 billion investment in nine quantum computing companies, including IBM, D-Wave Quantum, Rigetti Computing, and Infleqtion. The funding, part of the 2022 CHIPS and Science Act, will support research and development in exchange for minority equity stakes in the companies.
IBM is the largest recipient, set to receive $1 billion to establish Anderon, a new subsidiary focused on quantum chip production. The company will match the government's investment with an additional $1 billion. Other recipients include GlobalFoundries ($375 million), D-Wave ($100 million), Rigetti ($100 million), and Infleqtion ($100 million). Startup Diraq will receive $38 million.
The initiative aims to strengthen U.S. leadership in quantum computing, a technology expected to solve complex problems beyond the reach of classical computers. The funding will support the development of quantum chips and infrastructure, with Anderon operating as a standalone company in Albany, New York.
Market Reaction: Quantum-related stocks surged following the announcement. IBM shares rose 7%, while D-Wave, Rigetti, and Infleqtion saw gains of 20% or more. Options traders also showed strong interest, with IBM options trading at 15 times the 30-day average, indicating bullish sentiment.
The Trump administration has previously used a similar strategy of equity-for-funding deals, including a 10% stake in Intel last year. Intel's stock has since risen 500%, rewarding early investors.
The U.S. government's investment underscores the strategic importance of quantum computing in national security, scientific research, and economic competitiveness.