Quantum-computing stocks surged in premarket trading on Thursday after a Wall Street Journal report said the Trump administration plans to award roughly $2 billion in grants to nine quantum technology companies, marking one of the biggest government pushes yet into the emerging industry.
Shares of IBM (IBM) rose about 7% before the opening bell, while GlobalFoundries jumped roughly 14%.
Smaller quantum-focused firms also posted sharp gains.
D-Wave Quantum surged 16%, Rigetti Computing climbed more than 14%, and Infleqtion soared over 23%.
The reported funding package accelerated investor optimism around a sector that has increasingly attracted capital following recent breakthroughs in quantum hardware and artificial intelligence.
IBM emerges as the biggest beneficiary
According to the Wall Street Journal report, IBM is set to receive the largest share of the funding package, with the Commerce Department agreeing to provide the company with $1 billion.
IBM said in a release that it had signed a Letter of Intent with the US Department of Commerce to establish what it described as America’s first pure-play quantum chip foundry.
“Today, IBM and the US Department of Commerce announced a Letter of Intent (LOI) to build an American quantum chip foundry, securing the nation’s global quantum leadership and fueling the country’s growing quantum ecosystem,” the company said.
IBM said the CHIPS incentive funding would support a new business called Anderon.
“The CHIPS incentive from the DoC will support the research and development efforts of a new IBM company: Anderon, which will be America’s first pure-play quantum foundry,” IBM said.
The company described the initiative as one of the most significant US government commitments to quantum research and development to date.
“In addition to the $1 billion in CHIPS incentives provided by the DoC, IBM will contribute $1 billion of cash into Anderon, along with IBM investing significant intellectual property, assets, and a skilled workforce, with additional investors expected as Anderon grows,” the company added.
Other companies expected to receive funding reportedly include D-Wave Quantum, Rigetti Computing, and Infleqtion, while startup Diraq is expected to receive about $38 million.
Most of the other firms are slated to receive around $100 million each, according to the report.
Government expands strategic technology investments
The grants are reportedly being funded through the 2022 CHIPS and Science Act, which allocated money for advanced semiconductor and emerging technology initiatives.
Commerce Secretary Howard Lutnick has aggressively reshaped the department’s industrial strategy in recent months, pushing companies to expand domestic investment while also structuring deals that give the government equity stakes in strategically important firms.
Under the reported quantum package, the government would receive minority ownership stakes in each participating company, though details on the exact size and structure of those stakes were not disclosed.
“The Trump administration is leading the world into a new era of American innovation,” Lutnick said in a statement, WSJ reported.
The funding structure resembles a previous agreement struck with Intel in 2025, when the US government acquired a 10% stake in the chipmaker as part of an $8.9 billion investment package.
Intel shares have surged about 380% since that agreement.
The administration has also pursued similar arrangements with rare-earths companies, including USA Rare Earth and MP Materials.
Quantum industry gains political and investor momentum
Quantum computing has increasingly become viewed as both an economic and national security priority because of its potential to dramatically accelerate scientific research, encryption, logistics, and artificial intelligence.
The Commerce Department official cited in the report said the industry was now in “a much better position” with clearer visibility toward practical commercial deployment.
The administration is also reportedly preparing an executive order focused on supporting the quantum sector.
Technology giants, including Microsoft and Google, have increased their investments in quantum computing following a series of recent advances that have reignited optimism about the technology’s long-term commercial potential.
Still, some analysts caution that the industry remains highly speculative.
“Everybody is excited about quantum because it is the next big thing,” Dana Goward, president of the Resilient Navigation and Timing Foundation, said in the WSJ report.
“A lot of the expectations and hopes have yet to be realized,” he added, while noting that one possible application of quantum technology could eventually replace GPS systems.
Some technology analysts have also questioned whether the government should take direct equity stakes in risky emerging industries.
Lutnick, however, has argued that such structures could allow taxpayers to benefit financially if the technologies eventually succeed.
A senior Commerce Department official acknowledged that many of the investments could take years to generate meaningful returns but said the administration intentionally spread the funding across multiple companies and technologies to diversify risk within the sector.
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