🟢 IBM is trading 4.1% up today on $2B U.S. quantum chip foundry deal

IBM is trading 4.1% up at $263.28 in pre-market following news of a $2 billion joint initiative with the U.S. Department of Commerce to build the nation’s first pure-play quantum chip foundry.

• The project is supported by a $1 billion CHIPS Act incentive and a $1 billion investment from IBM, extending a sharp rally from the previous session.
• Investors are bidding shares higher on expectations that the quantum push will significantly enhance the company's long-term growth and competitive standing.
• The initiative marks a major milestone in U.S. semiconductor manufacturing, focusing specifically on emerging quantum technology.