Uncle Sam Enters the Quantum Realm
After a surge sparked by reports of potential U.S. equity stakes in quantum computing firms, the Trump administration clarifies it’s not in active talks — but the mere idea has already electrified Wall Street and the tech world.
In a surge that blended science, strategy, and speculation, shares of leading U.S. quantum computing firms rocketed higher Thursday after reports that the Trump administration was exploring potential equity stakes in the emerging technology sector. While the White House has since clarified that no such negotiations are currently underway, the market’s reaction reveals just how eager investors are to see Washington take a direct hand in shaping the quantum revolution.
Stocks Soar on Wall Street Journal Report
The spark came from a Wall Street Journal report suggesting that the Commerce Department was in discussions to acquire stakes in quantum computing firms in exchange for federal funding. The report named IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS) as being in talks, while noting that Quantum Computing Inc. (NASDAQ: QUBT) and Atom Computing were also considering similar arrangements.
The story sent quantum stocks into orbit. IonQ surged nearly 10%, Rigetti jumped 11.5%, D-Wave leapt over 16%, and Quantum Computing rose nearly 8%. Even the Defiance Quantum ETF, which tracks companies tied to quantum and machine learning technologies, advanced 1.3%, extending a 32% year-to-date gain.
White House Pushback Adds Nuance
However, a source familiar with the matter told Yahoo Finance Senior Reporter Jennifer Schonberger that while the administration has received numerous pitches from companies seeking government investment, active talks are not currently taking place. The source added that any future deal would be designed to deliver “a good return for the taxpayer” and could take the form of warrants or loans rather than direct equity stakes.
The Trump administration, according to the source, is considering ways to use leftover funds from its overhaul of the Biden administration’s Chips Act to support critical technology sectors — but no firm decisions have been made, and the companies mentioned in the Journal report may not be directly involved.
A Shift in Washington’s Industrial Strategy
Even without confirmed negotiations, the idea of Washington taking ownership positions in cutting-edge tech firms marks a striking evolution in U.S. industrial policy. The federal government has already taken a 10% stake in Intel (NASDAQ: INTC) and formed a “golden share” partnership with U.S. Steel Corp. and Japan’s Nippon Steel, granting it strategic influence over critical manufacturing decisions.
Elsewhere, the Department of Defense has acquired stakes in MP Materials (NYSE: MP) and Trilogy Metals (NYSE: TMQ), while the Department of Energy invested directly in Lithium Americas (NYSE: LAC) — part of a broader trend of federal equity participation in sectors deemed vital for national security and economic resilience.

