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Congress Moves To Boost Quantum Funding By 68% As China’s $10 Billion Push Intensifies (NASDAQ: IONQ) (NYSE: IBM) (NASDAQ: GOOG) (NASDAQ: MSFT)
['Ewan Scott']
Foreign Policy Journal
Bipartisan support is building in Congress to significantly expand federal investment in quantum computing, as rival nations accelerate their own programs across defense, cybersecurity and intelligence applications.
The congressional push follows action from the Trump administration, which in May announced plans to direct more than $2 billion into the quantum industry through federal investments.
Shares of leading pure-play quantum companies including D-Wave Quantum, Infleqtion and Rigetti Computing have fallen sharply since the start of the year as investor enthusiasm for the sector has cooled.
“In China, you see a massive push toward quantum leadership,” said Dario Gil, under secretary for science at the Department of Energy.
Quantum executives and lobbyists are increasingly engaging directly with elected officials, a shift noted by Infleqtion Chief Executive Officer Matt Kinsella.