Quantum-computing stocks surged in premarket trading on Thursday after a Wall Street Journal report revealed that the Trump administration plans to award roughly $2 billion in grants to nine quantum technology companies, marking one of the largest government pushes into the emerging industry.
Shares of IBM (IBM) rose about 7% before the opening bell, while GlobalFoundries jumped roughly 14%. Smaller quantum-focused firms also posted sharp gains: D-Wave Quantum surged 16%, Rigetti Computing climbed more than 14%, and Infleqtion soared over 23%.
The funding, sourced from the 2022 CHIPS and Science Act, is aimed at strengthening domestic quantum research and development. IBM emerges as the biggest beneficiary, set to receive $1 billion from the Commerce Department. The company said it signed a Letter of Intent to establish America’s first pure-play quantum chip foundry through a new subsidiary called Anderon. IBM will contribute an additional $1 billion in cash and significant intellectual property and workforce assets to the venture, with further investors expected.
Chipmaker GlobalFoundries will receive $375 million, while D-Wave Quantum, Rigetti Computing, and Infleqtion are each poised to get around $100 million. Startup Diraq may receive about $38 million. Other startups slated for funding include Atom Computing, PsiQuantum, and Quantinuum.
As part of the deals, the U.S. government will take minority equity stakes in each company—a structure similar to the 2025 Intel agreement, where the government acquired a 10% stake as part of an $8.9 billion investment. Commerce Secretary Howard Lutnick emphasized that the deals are designed to allow taxpayers to benefit financially if the technologies succeed, while also spreading risk across multiple firms. A senior official acknowledged that returns could take years to materialize but said the diversified approach mitigates sector-specific risks.
The administration is also reportedly preparing an executive order to further support the quantum industry, amid growing recognition of its potential to revolutionize fields such as encryption, logistics, and artificial intelligence. The announcement accelerated investor optimism, though some analysts urged caution, noting that commercial viability remains uncertain.
