The US government took $2 billion in equity stakes in nine quantum computing companies. The biggest beneficiary was IBM, alongside D-Wave Quantum, Atom Computing, and PsiQuantum. The deals were reported as not final, while the White House continued soliciting proposals from other tech firms. PsiQuantum received $100 million and is connected to Donald Trump Jr.’s firm, 1789 Capital. D-Wave Quantum was taken public in 2022 by Michael Emil, a current top Pentagon official, and its stock rose sharply after the deal. The investments were framed as advancing American quantum capabilities and creating jobs. Prior scrutiny has targeted defense contracts involving companies associated with Donald Trump Jr., and Intel faces a shareholder lawsuit over a government deal.
"The US government has taken $2 billion worth of equity stakes in nine quantum computing companies, including one linked to the Trump family and another taken public by a current Pentagon official. IBM was the biggest beneficiary, along with firms including D-Wave Quantum, Atom Computing and PsiQuantum, according to The Financial Times and press releases from D-Wave and PsiQuantum. The deals reportedly aren't final and the White House is still soliciting proposals from other tech firms."
"PsiQuantum, which received $100 million, is connected to Donald Trump Jr.'s firm 1789 Capital. Another, D-Wave Quantum, was taken public in 2022 by a current top Pentagon official, Michael Emil. The latter's stock went up sharply following the deal. The Trump administration has made investments in key market areas like chips and critical minerals, including a $10 billion investment in Intel last year."
"With today's CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation," said US commerce secretary Howard Lutnick in a statement. "These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.""
"Senator Elizabeth Warren and other US representatives have previously pressed the Department of Defense about contracts given out to companies associated with Donald Trump Jr., including Cerebras Systems, PsiQuantum and Firehawk Aerospace, among others. Intel is also facing a lawsuit from shareholders over its US government deal. Quantum computing is a developing field with theoretical potential but few concrete achievements."
#quantum-computing #us-government-investment #chips-rd #pentagon-contracts #trump-family-linked-companies
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