Rigetti, D-Wave, IonQ Rally on U.S. Stake Rumors

• U.S. quantum computing stocks surged in premarket trading following a Wall Street Journal report on Trump administration discussions for equity stakes in exchange for federal funding.
• The Defiance Quantum ETF (QTUM) rose 2.3% and has gained nearly 38% year-to-date, amid the administration’s shift toward direct ownership in critical tech firms like Lithium Americas Corp. (LAC), MP Materials Corp. (MP), and Intel Corp. (INTC) to secure supply chains against China reliance, though a Commerce Department official denied active negotiations with the quantum companies.
• Quantum computing’s potential to solve complex problems is advancing, as evidenced by Microsoft’s (MSFT) February chip unveiling signaling scalability in years and IBM’s (IBM) June plan for a practical system by 2029, positioning federal equity as a key enabler for overcoming error-correction challenges in the field.

The surge in shares of leading U.S. quantum computing companies underscores a pivotal moment in federal investment strategies, as the Trump administration explores equity stakes to bolster domestic technological sovereignty. IonQ (IONQ) shares climbed 14.07% to $63.25 in premarket trading, Rigetti Computing (RGTI) advanced 12.87% to $40.70, D-Wave Quantum (QBTS) rose 15.87% to $31.70, and Quantum Computing Inc. (QUBT) gained 14.66% to $17.05, following a Wall Street Journal report on ongoing discussions for government ownership in exchange for funding.

This approach marks a departure from conventional grants, aiming to secure supply chains for critical technologies and mitigate dependencies on foreign adversaries like China, with similar stakes already pursued in Lithium Americas Corp. (LAC), MP Materials Corp. (MP), and Intel Corp. (INTC).

Amid these developments, a U.S. Commerce Department official clarified to Reuters that no active negotiations are underway with the specified firms, highlighting the preliminary nature of the talks while emphasizing the administration’s broader push to integrate direct equity into innovation subsidies. The Defiance Quantum ETF (QTUM), which benchmarks firms advancing quantum and machine learning capabilities, rose 2.3% and has captured a 38% year-to-date increase, reflecting sustained investor enthusiasm for the sector’s potential despite its nascent stage.

Quantum computing leverages principles of quantum mechanics to address computational challenges intractable for classical systems, yet current prototypes allocate substantial resources to error correction, limiting net performance advantages. Recent milestones, including Microsoft’s (MSFT) February unveiling of a chip positioning scalable quantum systems within years and IBM’s (IBM) June outline for a viable machine by 2029, align with accelerated progress reported in 2025 analyses, such as IBM’s pursuit of a quantum-centric supercomputer exceeding 4,000 qubits this year and Google’s October introduction of the Quantum Echoes algorithm, which demonstrates 13,000-fold speedups over classical methods on specialized tasks.

These advancements, coupled with projections of up to $250 billion in economic impact by decade’s end, position federal equity infusions as a catalyst for overcoming scalability hurdles and enhancing U.S. competitiveness in fields from cryptography to materials science.

As discussions evolve, the sector’s trajectory will depend on aligning public capital with private R&D to transition quantum systems from experimental prototypes to deployable infrastructure.

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