Shares of quantum companies rose following the announcement by the US Department of Commerce of a $2 billion allocation to American firms under the CHIPS R&D program.
IBM shares increased by 0.34%, D-Wave by 14.22%, and Rigetti by 19.84%.
IBM emerged as the largest potential recipient, with up to $1 billion in government support earmarked for the Anderon quantum manufacturing project. The company plans to invest an additional $1 billion of its own funds to establish a facility in New Albany, New York.
The list also includes GlobalFoundries, PsiQuantum, Quantinuum, Infleqtion, Atom Computing, D-Wave Quantum, Rigetti, and Diraq. The NIST clarified that the support will affect two companies in the field of quantum manufacturing and seven developers of such computations.
GlobalFoundries is vying for $375 million for a quantum components factory, while D-Wave, Rigetti, and Infleqtion each aim for approximately $100 million.
Google, Microsoft, and IonQ were not included in the new funding round.
The US authorities stated that the program is aimed at strengthening the country’s leadership in quantum technologies and supporting national security.
Back in May, Keeper Security CEO Darren Guccione stated that AI and quantum technologies will threaten existing security systems.