Infleqtion's stock surged 12.11% during pre-market trading on Friday, extending a significant rally in the quantum computing sector.
The sharp move was driven by the announcement that the U.S. Department of Commerce will award a $2 billion funding package to nine quantum-computing companies as part of the CHIPS and Science Act, with Infleqtion set to receive approximately $100 million through a signed letter of intent. The funding includes the government taking minority equity stakes in the selected firms to accelerate domestic development of quantum hardware and systems, underscoring the administration's strategic push to bolster U.S. leadership in what is viewed as a critical technology for economic competitiveness and national security.
The policy catalyst has triggered a sector-wide rally, with multiple quantum computing stocks posting substantial gains throughout the previous trading sessions. Infleqtion's pre-market surge continues the momentum established after the landmark funding announcement.
