Quantum Stocks Surge on $2B Fundin, Companies Named Report

A recent report indicated the US government is providing $2 billion in funding to quantum computing projects in exchange for equity stakes. The recipients of this funding will be revealed once the details of the deal are formalized.

Several stocks tied to the quantum computing sector have reacted positively to the news, with notable gains observed for IBM, GFS, RGTI, and QBTS. The market is now waiting for official details on the participating companies and their exact stakes in the government's initiative.

Notably, D-Wave recently secured its second year of funding for a quantum computing project through the Microelectronics Commons, and Honeywell-back Quantinuum went public via an IPO, providing further data points for the sector. D-Wave also recently secured second-year funding for a superconducting quantum computing project via a related entity, QBTS.

However, not all companies involved in quantum computing appear to have received funding in the latest round, with the likes of Google, Microsoft, and Ionq possibly having been snubbed, according to some analysts.

Related Stocks

• QBTS
• RGTI
• IBM
• GOOGL
• HON
• MSFT
• IONQ