IBM Stock Surges on Federal Quantum Computing Funding and AI Cybersecurity Developments
International Business Machines (IBM) saw its stock rise nearly 17% week to date after being named the top recipient of a $2 billion federal government initiative for quantum computing. The Department of Commerce awarded IBM $1 billion, which will be matched by the company and used to establish Anderon, a new quantum chip foundry. Additionally, IBM announced advancements in AI-powered cybersecurity.
Tickers: $IBM
Topics: AI cybersecurity federal government initiative quantum computing