GoKawiilInternational Business Machines Corp. (IBM) signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, Dec. 8, 2025.
Quantum computing shares popped on Thursday, as the U.S. government said it would award $2 billion in grants to nine firms operating in the space.
The National Institute of Standards and Technology announced the signing of letters of intent in a release, saying it would take a minority, non-controlling stake in each company.
The Wall Street Journal first reported on the deals.
IBM is the biggest beneficiary of the package, with the U.S. Commerce Department agreeing to give the firm $1 billion.
Shares of IBM were trading about 7% higher.
The company is a frontrunner in the movement to build supercomputers using quantum technology, which developers say will be able to solve complex problems existing computers cannot tackle.
Chipmaker GlobalFoundries is receiving $375 million, with other grant recipients D-Wave Quantum , Rigetti Computing and Infleqtion expected to be awarded $100 million. Startup Diraq is reportedly set to receive a $38 million grant.
Shares of D-Wave and Rigetti soared 25%, while Infleqtion skyrocketed about 30% higher.
Other quantum firms that were not part of the announcement also climbed on the news, with Arqit booming 30%, while IonQ popped 12% and Quantum Computing was up 17%.