IonQ Shares Pop In Quantum Move; U.S. Funds Go To Rival
IonQ Inc. stock jumped 12.24% to $58.89 at the close Thursday as quantum-computing names caught a bid after reports of new federal funding. That move topped the wider market, with the Dow up 0.55%, S&P 500 up 0.17%, and Nasdaq rising 0.09%. Commerce on Monday said it plans $2.013 billion in incentives for two U.S. quantum foundries and seven quantum-computing firms, focusing on “fault-tolerant” quantum systems that can still operate with errors. Quantum computers use qubits that hold multiple states. Companies named for the incentives include IBM, GlobalFoundries, Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum and Rigetti. IonQ was not on the list.