Quantum Shares Snap Back as IonQ, Rigetti, D-Wave Lose Steam
Quantum computing names finished the week with volatile trading and recent gains still in focus. IonQ was last at $57.85, off 0.3%. Rigetti Computing gained 1.7% to $20.98. D-Wave Quantum slipped 2.0% to $23.37 and Quantum Computing Inc. was up 0.2% at $9.93. The group had rallied after a spring run-up—The Motley Fool said Friday IonQ, Rigetti and D-Wave were still up at least 50% from the end of March, even after some weakness this week. Stocks in the sector got a lift not from earnings, but from a shift in government policy. On May 21, the U.S. Department of Commerce announced it had signed nine letters of intent for $2.013 billion in planned CHIPS and Science Act incentives for quantum companies. IBM gets $1 billion, GlobalFoundries $375 million, D-Wave is set to receive $100 million, and Rigetti up to $100 million. These incentives target utility-scale, fault-tolerant quantum computers, which use qubits—known for being error-prone, but essential for scalable systems. Commerce Secretary Howard Lutnick called the investments the start of “a new era of American innovation.” That line landed with investors who have wanted to see more political support for the industry.
