QUBT is trading about 5% up in after-hours trading at $11.99 after the U.S. Department of Commerce announced $2.013 billion in CHIPS and Science Act funding earmarked for the quantum computing sector.
- The federal support includes plans for the government to take minority equity stakes in nine quantum firms, signaling a major strategic investment in the industry.
- Investors are bidding up QUBT on expectations that the company is well-positioned to benefit from this targeted government funding.
- The move extends a powerful regular-session performance where the stock gained +19.35% to close at $11.41.