On May 22, IBM rose 3.21% in pre-market trading, trading at $262.00 USD/share, with trading volume of $8.5744 million. The stock continues to build on the prior session's 12% surge driven by a landmark U.S. government quantum computing investment.
The U.S. Commerce Department announced it will allocate over $2 billion in federal funding to nine quantum computing companies under the CHIPS and Science Act's R&D provisions, with IBM securing the largest share at $10 billion. In exchange, the government will acquire minority, non-controlling equity stakes in the recipient companies. IBM confirmed it will partner with the U.S. government to build the nation's first dedicated quantum wafer foundry, and separately invest $10 billion of its own capital to establish a new entity named Anderon focused on quantum processor manufacturing.
Options market activity surged in tandem, with IBM options volume reaching nearly 200,000 contracts — 15 times the 30-day average — and call options outpacing puts by roughly 8-to-1, signaling strongly bullish sentiment among traders.
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