Quantum stocks rise after up to $100 million CHIPS awards
QTUM•Quantum stocks advance after CHIPS Act awards
Shares of quantum computing companies advanced after Rigetti, D-Wave and Quantinuum each secured definitive agreements for up to $100 million in U.S. CHIPS Act funding.
- Rigetti Computing (RGTI.O) rose 7.2%, D-Wave Quantum (QBTS.O) gained 9.7%, and Quantinuum (QNT.O) climbed 5.9%.
- Infleqtion (INFQ.N) was up 11.7%, while the Defiance Quantum ETF (QTUM.O) rose 1.5%.
- IonQ (IONQ.N) advanced 9.6%, also aided by strong forecasts.
- The U.S. Department of Commerce will receive a minority, non-controlling equity stake in Rigetti and D-Wave as a condition of the awards.
- The funding is aimed at accelerating quantum computing R&D and bolstering U.S. leadership in the technology.
- Including the session's moves, RGTI was down 31.4% year to date and QBTS down 30.9% year to date.
