On May 22, Infleqtion rose 10.2% in pre-market trading, trading at $16.3 USD/share, with trading volume of $1.4383 million. The rally continues to be fueled by the Trump administration's announcement that the Department of Commerce will provide $2 billion in grants to nine quantum computing companies, with Infleqtion signing a $100 million letter of intent aimed at accelerating U.S. leadership in quantum computing.
The funding, sourced from the 2022 CHIPS and Science Act, includes the government acquiring minority non-controlling equity stakes in each recipient company. IBM received $1 billion as the largest beneficiary, GlobalFoundries $375 million, while D-Wave Quantum, Rigetti Computing, and Infleqtion each received approximately $100 million. On May 21, Infleqtion surged over 40% in regular trading and gained an additional 8.44% in after-hours trading as the quantum computing sector experienced a broad rally. The continued pre-market strength reflects sustained momentum from this landmark policy catalyst following a prior three-day correction exceeding 25%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
