Shares of quantum companies surged following the U.S. Department of Commerce's announcement of a $2 billion allocation to American firms under the CHIPS R&D program.
IBM's stock increased by 0.34%, while D-Wave rose by 14.22% and Rigetti by 19.84%.
Source: Google Finance.IBM is the largest potential beneficiary, with up to $1 billion in government support earmarked for its Anderon quantum manufacturing project. The company plans to invest an additional $1 billion of its own funds to establish a facility in New Albany, New York.
Other companies included in the list are GlobalFoundries, PsiQuantum, Quantinuum, Infleqtion, Atom Computing, D-Wave Quantum, Rigetti, and Diraq. The NIST clarified that the support will benefit two companies in quantum manufacturing and seven developers of such computing technologies.
GlobalFoundries is seeking $375 million for a quantum component factory, while D-Wave, Rigetti, and Infleqtion are each aiming for around $100 million.
Notably, Google, Microsoft, and IonQ did not participate in this funding round.
The U.S. government stated that the program aims to strengthen the country's leadership in quantum technologies and support national security.
In May, Darren Guccione, CEO of Keeper Security, warned that AI and quantum technologies could jeopardize existing security systems.