US government takes $2 billion equity stake in nine quantum computing firms

The US Commerce Department has signed letters of intent to take equity stakes totaling $2 billion in nine quantum computing companies under the CHIPS Research and Development program. IBM will receive $1 billion and GlobalFoundries $375 million, with both stocks rising over 6% on the news. D-Wave Quantum surged more than 20%. Other recipients include PsiQuantum (which has ties to a Trump family-linked VC firm), Atom Computing, Infleqtion, Quantinuum, Rigetti, and Diraq. The announcement signals a major federal push to advance US quantum computing capabilities.