UPDATE 1-US to award $2 billion to quantum computing firms, take equity stakes, WSJ reports
Infleqtion, Inc. INFQ | 0.00 | |
D-Wave Quantum QBTS | 0.00 | |
IBM Corp IBM | 0.00 | |
GlobalFoundries Inc. GFS | 0.00 | |
Rigetti Computing, Inc. RGTI | 0.00 |
Adds details from the report in paragraphs 2 and 3, adds share move in paragraph 4
May 21 (Reuters) - The Trump administration is awarding $2 billion in grants to nine quantum-computing companies in deals that include U.S. government equity stakes, the Wall Street Journal reported on Thursday, citing the Commerce Department.
The department has agreed to give $1 billion of the package to IBM IBM.N, while GlobalFoundries GFS.O will receive $375 million, according to the report.
The remaining firms, including D-Wave Quantum QBTS.N , Rigetti Computing RGTI.O and Infleqtion INFQ.N, are expected to receive $100 million each, while startup Diraq is slated to receive $38 million, according to WSJ.
Shares of the companies included in the package jumped between 7% and 19% in premarket trading.
The U.S. Department of Commerce, IBM and GlobalFoundries did not immediately respond to Reuters requests for comment.