Quantum computing stocks surged after the Trump administration announced more than $2 billion (€1.7bn) in federal support for the sector. IBM received the largest investment and shares rose over 12% adding more than $27 billion (€23.2bn) in market capitalisation.

The grants include a massive $1 billion grant for IBM.

IBM and the US Commerce Department are building the first purpose-built quantum chip foundry, backed by $1B in CHIPS Act funding, with major implications for crypto security.

IBM Stock: The Trump administration is awarding $2 billion in grants to nine quantum-computing companies in deals.