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yesterday

Quantum Stocks Jump on Report of U.S. Equity Stakes in Sector as Commerce Denies Talks

Officials deny active negotiations, leaving the prospect of equity-for-funding support uncertain.

An employee works at the Rigetti Fab-1 integrated quantum device manufacturing facility in Fremont, California, U.S. April 28, 2021. Picture taken April 28, 2021. Rigettti/Handout via REUTERS
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Overview

  • The Wall Street Journal reported that the Trump administration has discussed taking equity stakes in quantum firms in exchange for federal funding, naming IonQ, Rigetti, and D‑Wave, with Quantum Computing Inc. and Atom Computing considering similar arrangements.
  • A Commerce Department spokesperson told Reuters the agency is not currently negotiating with any of the companies, and no commitments, terms, or completed deals have been announced.
  • U.S. Deputy Commerce Secretary Paul Dabbar is reported to be leading the discussions, and the potential awards would start at roughly $10 million per company.
  • Shares of IONQ, Rigetti, D‑Wave, and Quantum Computing rose roughly 11% to 20% in premarket trading, while the Defiance Quantum ETF advanced about 2% to 3%.
  • The reported talks follow recent federal equity moves in Intel and MP Materials, even as the quantum firms remain unprofitable and the technology’s commercial viability is still viewed as years away.