Quantum Computing Stocks Rise as CHIPS Act Awards Total $300 Million
On September 8, quantum computing stocks surged following the U.S. Department of Commerce's announcement of a total $300 million in funding under the CHIPS and Science Act to three pure-play firms: D-Wave Quantum (QBTS), Rigetti Computing (RGTI), and Quantinuum (QNT). The investment includes minority equity stakes for two companies, offering potential upside for taxpayers while supporting corporate governance. Shares of these quantum computing firms rose between 1% and 6%, outperforming a generally declining market. The funding is intended to advance key technologies: D-Wave will develop large-scale qubit systems; Rigetti aims to scale superconducting hardware through infrastructure improvements; Quantinuum plans next-generation ion traps in collaboration with GlobalFoundries (GFS), which received the largest single award at $375 million. Despite Tuesday’s gains, these stocks remain down significantly year-to-date due to ongoing losses and limited revenue. The government's equity stake introduces dilution risks for shareholders but underscores a broader strategic push by Washington to bolster quantum computing as both a national security priority and commercial opportunity.
Tickers: $GFS $GOOG $GOOGL $IBM $QBTS $QNT $RGTI
Topics: CHIPS Act equity stakes government funding quantum computing