The US government will take equity stakes worth a total of $2bn in a slew of quantum computing companies, including a start-up backed by a firm with links to the Trump family and one taken public by a Pentagon official.
The announcement by the commerce department that it had signed letters of intent with nine companies — including GlobalFoundries and IBM — sent shares in quantum specialists soaring on Thursday.
Both IBM, which is set to get $1bn, and GlobalFoundries, which will receive $375mn, were up more than 6 per cent in pre-market trading. D-Wave Quantum, an awardee that was taken public in 2022 by Emil Michael — now a top Pentagon official — was up more than 20 per cent.
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