On May 21, IBM rose 3.56% in regular trading, trading at $234.33/share, with trading volume of $919 million.
On the news front, the U.S. Department of Commerce announced that the Trump administration will provide a total of $2 billion in grants to nine quantum computing companies, with agreements including the U.S. government acquiring equity stakes. IBM, as the industry leader in the quantum computing race, will receive $1 billion from the allocation — the largest single share — to build the nation's first dedicated quantum wafer foundry. Chip manufacturer GlobalFoundries will receive $375 million, while other recipients including D-Wave Quantum, Rigetti Computing, and Infleqtion are expected to receive approximately $100 million each.
The move accelerates the government's push to bolster domestic quantum computing supply chains, an area deemed strategically critical for both economic competitiveness and national security. The combination of quantum computing and AI technologies is expected to significantly enhance scientific research capabilities. Shares of other quantum computing companies also surged in response, with D-Wave Quantum up over 17% and Rigetti Computing up over 15%.
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