Quantum stocks are trading higher Monday following recent reports indicating the Trump administration is in talks to take equity stakes in quantum-computing firms.
What To Know: According to the Wall Street Journal, the Commerce Department is considering taking equity stakes in exchange for federal funding for companies including IonQ, Rigetti Computing and D-Wave Quantum. The report states that Quantum Computing Inc and Atom Computing may also be under consideration for similar arrangements.
The Commerce Department later denied that active talks were taking place, saying in a statement that it was "not currently negotiating equity stakes with quantum computing companies."
The reported talks come as the Trump administration pursues stakes in strategically important industries tied to national security and competition with China.
Shares of Rigetti Computing, Inc. (NASDQ:RGTI), D-Wave Quantum Inc. (NYSE:QBTS), Quantum Computing Inc. (NASDAQ:QUBT), Churchill Capital Corp (NASDAQ:CCCX) and IonQ, Inc. (NYSE:IONQ) are all trading higher on Monday amid optimism that potential federal funding and strategic backing could accelerate development and commercialization across the industry.
Quantum stocks may also be getting a lift ahead of Nvidia’s GTC event in Washington D.C. this week, which kicks off on Tuesday and features discussions on several key topics including quantum computing and HPC.
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Price Action: At the time of writing, IonQ shares are trading 5.94% higher at $63.89, D-Wave stock is trading 9.67% higher at $35.79, Quantum Computing shares are trading 4.80% higher at $16.28, Churchill Capital stock is trading 11.86% higher at $22.92 and Rigetti shares are trading 6.30% higher at $41.30, according to data from Benzinga Pro.
Image created using artificial intelligence via Midjourney.
