IBM shares climbed sharply on Thursday after the Trump administration unveiled a more than $2 billion (€1.7bn) federal investment programme targeting quantum computing companies, a move that triggered a broader rally across the sector.
The funding package, part of the CHIPS Act initiative, focused on quantum computing and domestic manufacturing, will distribute $1 billion (€861mn) to IBM to build a foundry for producing quantum computing chips. This comes as part of a broader strategy to bolster US leadership in the quantum industry.
