US Government Invests $300 Million in Quantum Computing Firms
Three prominent U.S. quantum computing companies—Rigetti Computing, D-Wave Quantum, and Quantinuum—have secured $100 million each in government funding. The investments are part of a broader U.S. initiative to advance the nascent technology.
Three leading U.S. quantum computing companies are set to receive substantial government funding, totaling $300 million. Rigetti Computing, D-Wave Quantum, and Quantinuum have each finalized agreements with the U.S. Department of Commerce's CHIPS Research and Development Office for $100 million apiece. The funding aims to accelerate the development of quantum computing technology.
The agreements are part of a larger $2 billion initiative established under the U.S. CHIPS and Science Act. The Department of Commerce's National Institute of Standards and Technology (NIST) announced plans in May to invest in companies working on quantum technology. As part of their deals, D-Wave and Rigetti confirmed the U.S. Department of Commerce will receive a minority, non-controlling equity stake in the companies.
This government investment highlights the growing strategic importance of quantum computing. The technology is seen as a potential game-changer for national security, economic competitiveness, and scientific advancement. Experts believe quantum computing could revolutionize fields from materials science and pharmaceuticals to financial modeling and communications, while also posing challenges to current encryption methods.
The news has boosted the stock performance of these companies, with Rigetti up 7.8%, D-Wave up 8.6%, and Quantinuum up 3.2% on the day. Other quantum computing players, including Quantum Computing Inc. (+5.3%) and IonQ (+8.5%), also saw their stock prices rise, indicating a positive market reaction to the sector's development. IonQ separately announced an increased fiscal 2026 outlook due to its acquisition of SkyWater Technology.