Shares of several quantum computing companies surged in U.S. premarket trading on Thursday following a media report that the Trump administration plans to award US$2 billion in grants to firms operating in the sector.
According to a report by The Wall Street Journal citing the U.S. Commerce Department, the funding agreements are expected to include equity stakes for the U.S. government.
Washington has previously structured similar arrangements involving minority stakes in companies from other strategic industries, including magnet producer Vulcan Elements and mining group MP Materials.
The Commerce Department has already agreed to provide US$1 billion of the package to IBM, which is widely regarded as one of the leaders in the race to develop quantum systems capable of outperforming traditional supercomputers.
GlobalFoundries (NASDAQ:GFS) is set to receive US$375 million under the programme.
The Wall Street Journal also reported that D-Wave Quantum (NYSE:QBTS), Rigetti Computing (NASDAQ:RGTI) and Infleqtion (NYSE:INFQ) are each expected to receive US$100 million in funding.
Startup Diraq is reportedly due to receive US$38 million.
Shares of the companies mentioned in the report climbed between 7% and 19% ahead of the market open.
Alongside artificial intelligence, quantum computing has become a strategic priority for the Trump administration as policymakers seek to strengthen industries viewed as critical for both economic competitiveness and national security.
The report noted that the funding transactions, which are expected to be financed through programmes created under the 2022 Chips and Science Act, have not yet been finalised.
A senior Commerce Department official told the newspaper there is now a clearer pathway toward commercial quantum computing becoming viable.
The Wall Street Journal also reported, citing people familiar with the matter, that the White House is preparing a new executive order focused specifically on the quantum computing industry.