US government takes $2 billion equity stake in nine quantum computing firms
by Joe Miller and Michael Peel, Financial Times from Ars Technica - All content on (#75SD7)
The US government will take equity stakes worth a total of $2 billion in a slew of quantum computing companies, including a startup 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 $1 billion, and GlobalFoundries, which will receive $375 million, were up more than 6 percent 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 percent.