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IonQ, Inc. (NYSE:IONQ) shares are trading higher Thursday on reports that the Trump administration is in talks to take equity stakes in quantum-computing firms.
What To Know: According to the Wall Street Journal, companies including IonQ, Rigetti Computing, Inc. (NASDAQ:RGTI) and D‑Wave Quantum Inc. (NYSE:QBTS) are discussing arrangements with the U.S. Department of Commerce under which the government would become a shareholder as part of funding agreements. The talks reportedly involve minimum funding awards from Washington of $10 million each. Under these proposed deals, the government could also receive warrants, licenses to intellectual property, royalties or revenue-sharing, in addition to equity stakes.
The reports note that this would mark one of the first significant signs of Washington's backing of the quantum-computing sector. Quantum computers are deemed a critical next-generation technology capable of solving problems classical machines cannot.
While none of the deals are yet final, the announcement has triggered increased investor interest in IonQ's shares, reflecting the market's reaction to the potential government role and funding in the quantum space.
See Also: AT&T Analysts Cut Their Forecasts After Q3 Earnings
IONQ Price Action: At the time of writing, IonQ shares are trading 9.14% higher at $60.52, according to data from Benzinga Pro.
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