The US commerce department announced it will take equity stakes totaling $2 billion in nine quantum computing companies. The move includes funding for firms like IBM and GlobalFoundries as well as startups with ties to prominent investors.
The commerce department signed letters of intent with the companies on Thursday, sending shares in several quantum specialists higher. IBM is set to receive $1 billion while GlobalFoundries will get $375 million. Other recipients include PsiQuantum, which will receive $100 million, and D-Wave Quantum, which saw shares rise more than 20 percent in pre-market trading.
