IBM says it plans to create ‘America’s first pure-play quantum foundry’ in collaboration with the Commerce Department.

Quantum computing stocks rallied on Thursday after news of a major investment from the White House. Infleqtion, Rigetti, and IBM shares spiked.

IBM will receive half the award, while companies such as D-Wave and Rigetti will also get a piece. In return, the government will take equity stakes.

IBM stock and shares of several quantum computing firms jumped after the U.S. Commerce Department announced $2 billion in grants to advance the technology. The deals with nine total companies reportedly include equity stakes.

Today, IBM (NYSE: IBM) and the U.S. Department of Commerce (DoC) announced a Letter of Intent (LOI) to build an American quantum chip foundry, securing the nation's global quantum leadership and fueling the country's growing quantum ecosystem.

Online data is generally pretty secure. Assuming everyone is careful with passwords and other protections, you can think of it as being locked in a vault so strong that even all the world’s supercomputers,

The scale of chemistry simulations with quantum computing has increased dramatically in just the last few months. In the latest milestone for the field, researchers from Cleveland Clinic, RIKEN, and IBM used a quantum-centric supercomputing (QCSC) framework to calculate the electronic structure of a pair of large protein-ligand complexes,