On May 22, IBM rose 3.7% overnight, trading at $261.72 per share, with trading volume of $4.9674 million.
The movement was driven by the Trump administration's announcement of a $20 billion quantum computing funding plan under the CHIPS and Science Act. IBM was awarded $10 billion in government grants to build the nation's first dedicated quantum wafer fabrication facility. The company simultaneously announced it would invest an additional $10 billion to establish a new subsidiary named Anderon, focused on quantum processor manufacturing.
The U.S. Department of Commerce signed letters of intent with nine quantum computing companies, with the government obtaining minority, non-controlling equity stakes in each recipient. Beyond IBM, GlobalFoundries received $375 million, while D-Wave Quantum, Rigetti Computing, Infleqtion, and PsiQuantum each secured up to $100 million. During the regular session, IBM surged as much as 12.43%, with the broader quantum computing sector rallying sharply. The overnight gain reflects continued investor enthusiasm following the landmark policy announcement positioning quantum computing as a national economic and security priority.
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