By Brian Sozzi
Publication Date: 2026-05-22 11:22:00
Big Blue’s market cap just got a whole lot bigger.
The news: IBM (IBM) stock surged over 11% on Thursday following a landmark announcement by the US Commerce Department detailing a $2 billion CHIPS and Science Act initiative to fund domestic quantum computing firms.
The move added about $26 billion to IBM’s market cap, bringing it to $237.8 billion.
Shares continued their rally on Friday, with a premarket gain of 3%.
IBM secured the single-largest allocation in the program — a $1 billion government grant — which the tech giant will match with $1 billion of its own capital to construct “Anderon” in Albany, New York. It’s being billed as America’s first pure-play, dedicated 300mm quantum chip manufacturing foundry.
The hype around this deal reflects a transition in IBM’s quantum roadmap from a long-term research and development project into a critical national-level manufacturing platform. In turn, the company is viewed as the primary…