D-Wave, Rigetti, and Quantinuum shares climbed on a $300 million federal funding package, though analysts warn that long-term research timelines and persistent operating losses remain significant hurdles for the sector.
Quantinuum shares gained 1% following a $100 million CHIPS Act award aimed at advancing trapped-ion quantum technology. The company is leveraging this partnership with GlobalFoundries to manufacture next-generation ion traps on 300mm wafers, marking a significant step in the federal government's effort to strengthen the quantum supply chain.
Quantinuum is collaborating with GlobalFoundries to manufacture next-generation ion traps.
Quantum computing stocks D-Wave, Rigetti, and Quantinuum surged Tuesday after the U.S. Department of Commerce awarded each firm $100 million under the CHIPS and Science Act. While the federal investment provides critical capital for hardware development, the government will take minority equity stakes in the companies, introducing potential dilution risks for existing shareholders.
The Commerce Department is taking non-controlling equity stakes to provide potential upside for taxpayers while supporting national security and commercial quantum computing initiatives.