The Commerce Department announced equity investments totaling $2bn across nine quantum computing companies, marking a significant escalation in Washington's tech sector intervention. IBM secured the largest award at $1bn, while GlobalFoundries received $375mn. Both stocks jumped over 6 percent in pre-market trading, with quantum specialists seeing broad gains.

The funding round drew attention for its political connections. PsiQuantum, set to receive $100mn, counts Donald Trump Jr. as an investor through 1789 Capital. D-Wave Quantum, taken public in 2022 by Pentagon official Emil Michael, surged more than 20 percent. Other $100mn recipients included Atom Computing, Infleqtion, Quantinuum and Rigetti, with Diraq receiving up to $38mn.

Commerce Secretary Howard Lutnick framed the move as establishing American leadership in quantum technology. The investments follow a pattern of Trump administration market interventions, including a 10 percent Intel stake acquired last year. Notably absent was IonQ, a Cerberus-backed leader linked to Trump's defense deputy. These deals remain subject to final approval, with Intel already facing shareholder litigation over its government agreement.

The program reflects growing competition with China and Europe in quantum capabilities. By taking equity positions, the administration aims to accelerate domestic production while creating high-paying technical jobs. However, the political entanglements raise questions about whether these investments prioritize national security or political connections.