Parts of the IBM Quantum System Two are displayed at IBM Thomas J. Watson Research Center in Yorktown Heights, New York on June 6, 2025.
The Trump administration is in talks with several quantum-computing firms about giving the Commerce Department equity stakes in exchange for federal funding, the Wall Street Journal reported on Wednesday.
The Commerce Department later denied that active talks were happening, telling CNBC that it is "not currently negotiating equity stakes with quantum computing companies."
The Journal, citing anonymous sources familiar with the matter, said the companies include IonQ , Rigetti Computing and D-Wave Quantum . Other firms, such as Quantum Computing Inc . and Atom Computing, are considering similar arrangements, it added.
Shares were higher Thursday for the quantum names mentioned in the report, and others. IonQ jumped 6%. D-Wave climbed 13%. Rigetti added 6%. Quantum Computing was up 5%. Arqit Quantum added 8%.
The WSJ report aligns with recent efforts by Washington to take stakes in major companies within industries seen as vital to U.S. national security, especially those receiving public funds.
One of the earliest examples under U.S. President Donald Trump's second term came when the Defense Department invested $400 million in American rare earths company MP Materials for about a 15% stake in the company.
A month later, the government took a roughly 10% stake in semiconductor firm Intel — the only American company capable of making advanced AI processors on U.S. soil.
The stakes in quantum computing companies would come with minimum funding awards of $10 million each, according to the Journal, citing people familiar with the matter. Other technology companies are also expected to compete for the grants.