Quantum stocks explode after report links Trump to secret investment push - The Economic Times

Quantum computer company stocks went up a lot on Thursday after the Wall Street Journal said the US government may buy shares in some of them for giving money support.The companies in these talks are IonQ (IONQ), Rigetti Computing (RGTI), D-Wave (QBTS), and Quantum Computing (QUBT). IonQ, the first pure quantum firm to go public, saw its stock rise 9% at market open. Rigetti went up 11%, D-Wave climbed 18%, and Quantum Computing shares increased nearly 10%.US government plans big quantum investmentsThe companies could get a minimum of $10 million from the Chips Research and Development Office as part of Commerce Department investments. This move follows a recent unusual trend where the US government takes big stakes in companies like Intel and MP Materials.The government has shown interest in quantum computing before like in 2018, President Trump signed the National Quantum Initiative Act, pledging $1.2 billion for quantum research, according to the report by Yahoo Finance. Under Biden, the CHIPS and Science Act funded some federal quantum programs.During Trump’s second term, bipartisan senators introduced a bill to reauthorize the 2018 law with $2.7 billion more for practical quantum applications. Live EventsQuantum stocks and market growthTrump administration equity stakes in critical sectors include:Trilogy Metals (TMQ): 10% stake + warrants for 7.5%Lithium Americas (LAC): 5% + 5% joint venture with GMMP Materials (MP): 15%Intel (INTC): 9.9%Critical Metals (CRML): 8% (in discussions).In September, Rigetti received a $5.8 million contract from the US Air Force, and the Department of Energy started a collaboration with IonQ. The new equity talks are part of the Trump administration’s plan to overhaul Biden’s CHIPS Act commitments, as stayed by Yahoo Finance. Quantum computers could solve problems in seconds that would take normal computers billions of years. But quantum computers are still fragile and prone to errors, making practical use difficult.Quantum computer company stocks went up a lot on Thursday after the Wall Street Journal said the US government may buy shares in some of them for giving money support. The companies in these talks are IonQ (IONQ), Rigetti Computing (RGTI), D-Wave (QBTS), and Quantum Computing (QUBT).In mid-October, shares of IonQ, Rigetti, D-Wave, and Quantum Computing hit record highs after JPMorgan (JPM) announced a $1.5 trillion, 10-year plan for critical tech sectors including quantum computing. The stocks fell sharply in the last two weeks before Thursday, IonQ down 7%, Rigetti down 10%, D-Wave down 15%, Quantum Computing down 7% on Wednesday alone. On Thursday, the early gains reversed the losses from Wednesday, giving investors hope again.FAQsQ1. Why did quantum stocks go up today?Quantum stocks rose after a Wall Street Journal report said the US government may buy shares in companies like IonQ and Rigetti as part of new funding plans.Q2. What role does Donald Trump have in the quantum investment plan?Reports say Trump’s administration is planning to reshape the CHIPS Act and push secret government investments in US quantum companies.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel)Read More News onqs stockquantum stocksUS government investmentQuantum ComputingquantumQuantum computing stocksTrump investment planUS government fundingIonQ stock newsRigetti Computing shares(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) 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