Quantum Stocks RGTI, QBTS, and INFQ Are Surging Today – Here’s Why

Thursday looks set to be an exciting day for quantum computing stocks. Shares of sector participants are surging across the board. As of writing, Rigetti Computing (NASDAQ:RGTI) is up by 25%, D-Wave Quantum (NYSE:QBTS) by 27%, and Infleqtion (NYSE:INFQ) by 42%.

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Meanwhile, more established companies are also on the move. GlobalFoundries (NASDAQ:GFS) stock is up 13%, while International Business Machines (NYSE:IBM) has gained 5%.

All these stocks are pushing higher after a report from the Wall Street Journal said the Trump administration plans to provide $2 billion in grants to nine quantum computing companies, with the agreements also including U.S. government equity stakes, according to the Commerce Department.

The initiative speeds up the administration’s push to strengthen the emerging quantum computing industry, which has been drawing significant interest from investors. Alongside developments in AI, quantum computing is viewed as having the ability to significantly advance scientific research, making it a key economic and national security focus for the administration.

IBM is set to receive the largest share of the funding package, with the company awarded $1 billion. IBM is considered one of the leading companies developing quantum computers, and said it will match the award with its own $1 billion investment to establish what it describes as the first U.S. manufacturing facility dedicated to specialized quantum chips. IBM is also creating a new business division tied to the project that will receive the government backing.

GlobalFoundries is expected to receive $375 million in funding and has also announced Quantum Technology Solutions, a new business unit that will manufacture quantum computing hardware.

Of the rest, Diraq received the smallest allocation at $38 million. Meanwhile, D-Wave Quantum, Rigetti Computing, Infleqtion, Atom Computing, Quantinuum, and PsiQuantum were each awarded $100 million.

PsiQuantum last year secured funding from a group of investors that included 1789 Capital, where Donald Trump Jr. is a partner.

Interestingly, IonQ (NYSE:IONQ), the largest pure-play public quantum company, was not among the companies selected to receive grant funding.

The deals still need to be completed.