The U.S. government is set to invest $2 billion into the quantum computing industry through a series of grants and equity deals, according to a report by the Wall Street Journal. The initiative is part of the Trump administration’s broader strategy to strengthen domestic technology supply chains and compete with China in advanced technologies.
Under the program, the U.S. Department of Commerce will provide approximately $1 billion to IBM and $375 million to GlobalFoundries. Several other quantum firms, including D-Wave Quantum, Rigetti Computing, and Infleqtion, are expected to receive around $100 million each. Australian startup Diraq may receive approximately $38 million.
The deals reportedly include the U.S. government taking equity stakes in the participating companies, continuing a trend already seen with investments in firms such as Intel and MP Materials.
Quantum computing has been viewed as a critical future technology because it can solve certain complex problems much faster than traditional supercomputers by leveraging quantum mechanics. However, current quantum systems still face major technical limitations, particularly high error rates that reduce their overall computational advantage.
Following the report, shares of several companies tied to the initiative rose sharply in premarket trading, with gains ranging from 7% to 21%.