Shares of IONQ, Rigetti, D-Wave Quantum and Quantum Computing rose between 12% and 14% after the report said the companies are in discussions about the US government becoming a shareholder as part of the agreements.
A U.S. Commerce Department official told Reuters in an email that the department is “not currently negotiating with any of the companies.”
The Defiance Quantum ETF, which tracks companies whose products or services are related to the development of quantum computing and machine learning technology, added 2.6% and would build on its 32% gain so far this year.
The Trump administration has stepped up efforts to secure U.S. supply chains for crucial minerals and semiconductors by converting federal subsidies to companies into equity stakes, aiming to reduce dependence on China.
The government has taken or discussed stakes in several companies, including Lithium Americas, MP Materials and Intel, as part of the shift toward direct ownership of traditional subsidies. Quantum computers use quantum mechanics to solve problems that would take classical computers thousands of years or more. But existing quantum computers have to spend so much of their computing power on solving errors that they are no faster than classical computers on the Internet.
In February, Microsoft unveiled a new chip that showed quantum computing is “years, not decades” away, while IBM said in June it plans to have a practical quantum computer by 2029.
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