tech
Quantum stocks soar as U.S. plans $2 billion funding incentives and equity stakes
Quantum computing shares popped as the U.S. government announced plans to award grants to nine firms operating in the space.
TL;DR
- U.S. government to award $2 billion in grants to nine quantum computing firms.
- National Institute of Standards and Technology to take minority, non-controlling stakes in recipient companies.
- IBM to receive $1 billion to develop a quantum foundry in Albany, New York.
- Funding sourced from the 2022 Chips and Science Act.
- Quantum computing stocks, including IBM, D-Wave, and Rigetti, saw significant gains following the announcement.