The rally in quantum computing names continued on Monday after JPMorgan Chase announced it as one of the areas it would invest in as part of a new initiative.
The bank said in a release that it would invest up to $10 billion in companies across four areas: supply chain and advanced manufacturing, defense and aerospace, energy technology, and frontier and strategic technologies — which includes quantum computing.
Arqit Quantum , D-Wave Quantum and Rigetti Computing each rose about 20%, while IONQ gained 15% following the announcement. Quantum Computing stock climbed 10%.
"It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security," said CEO Jamie Dimon in a statement.