Quantum computing stocks surged last week after the U.S. Department of Commerce announced $2.013 billion in CHIPS and Science Act grants to nine quantum computing companies, marking one of the largest federal commitments ever made to the sector.
• Defiance Quantum ETF stock is challenging resistance. Why is QTUM stock breaking out?
Something went wrong.
The announcement pushed the Defiance Quantum ETF (NASDAQ:QTUM) to cross $5 billion in assets under management, reinforcing the ETF's status as the largest U.S.-listed fund dedicated to quantum computing.
IBM (NYSE:IBM) emerged as the biggest recipient of this grant, securing $1 billion to launch Anderon, a standalone superconducting wafer foundry focused on quantum chip manufacturing. Meanwhile, D-Wave Quantum Inc (NYSE:QBTS), Rigetti Computing Inc (NASDAQ:RGTI), and Infleqtion Inc (NYSE:INFQ) each received funding commitments of up to $100 million.
