Quantum Computing Stocks Jump on Report US Will Grant $2-B in Awards

Quantum computing stocks surged after reports that the Trump administration is negotiating deals with nine quantum-computing companies under a proposed $2-billion grants-for-equity program, Grace O’Donnell reported for Yahoo Finance.

GlobalFoundries could receive $375 million. (Photo: GlobalFoundries)

According to a report by the Wall Street Journal, the US Commerce Department may provide $1 billion to IBM, while GlobalFoundries could receive $375 million.

D-Wave Quantum, Rigetti Computing, and Infleqtion may each receive $100 million, while Diraq could receive $38 million, according to the report.

The news boosted premarket trading, with IBM shares rising 6%, GlobalFoundries climbing 15%, D-Wave gaining more than 16%, and Rigetti increasing 14%.