By Chloe Taylor
Publication Date: 2026-05-21 10:55:00
International Business Machines Corp. (IBM) signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, Dec. 8, 2025.
Michael Nagle | Bloomberg | Getty Images
Quantum computing shares popped on Thursday, following reports that the U.S. government will award $2 billion in grants to nine firms operating in the space.
The Wall Street Journal first reported on the deals, which will see the U.S. government take equity stakes in the companies.
IBM is reportedly the biggest beneficiary of the package, with the U.S. Commerce Department agreeing to give the firm $1 billion, per the WSJ.
Shares of IBM were trading about 7% higher.
The company is a frontrunner in the movement to build supercomputers using quantum technology, which developers say will be able to solve complex problems existing computers cannot tackle.
Chipmaker GlobalFoundries is receiving $375 million, according to the WSJ, with other grant recipients D-Wave Quantum, Rigetti Computing and Infleqtion…
