TLDRs;
- Rigetti Computing’s stock rose 9.23% following reports of potential government equity investments.
- The Trump administration is said to be exploring funding-for-stake deals with multiple quantum firms.
- U.S. officials remain divided on whether formal negotiations have begun.
- The talks signal growing U.S. interest in securing strategic technology assets like quantum computing.
Rigetti Computing’s shares rallied sharply on Thursday, jumping 9.23% to $39.39 in after-hours trading after reports surfaced that the Trump administration is considering taking equity stakes in leading quantum computing firms.
The news suggested that companies like IonQ (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) could each receive at least $10 million in federal funding in exchange for minority ownership stakes.
The potential move marks a dramatic policy shift, positioning the U.S. government not merely as a regulator or grant provider, but as an equity participant in emerging technologies seen as vital to national security and economic competitiveness.
Washington Eyes Strategic Tech Stakes
According to sources familiar with the discussions, U.S. Deputy Commerce Secretary Paul Dabbar is leading the exploratory talks.
The proposal reportedly mirrors earlier efforts this year in which the Trump administration considered taking a 10% stake in Intel (INTC) via government grants that would convert into equity. Similar deals have already been discussed across the mining and steel sectors.
However, a U.S. Commerce Department official clarified that no formal negotiations are currently underway with Rigetti, IonQ, or D-Wave. The White House and the involved companies have not yet commented on the matter.
Despite the mixed messaging, investors appear to have interpreted the reports as a bullish sign for Rigetti, signaling that Washington recognizes the firm’s strategic importance in the global quantum race.
Quantum Computing as National Priority
Quantum computing is widely seen as the next frontier of computing power, capable of performing calculations beyond the reach of traditional supercomputers. The technology has significant defense, cybersecurity, and intelligence applications, making it a key focus for governments worldwide.
Industry observers note that while the U.S. has poured billions into quantum research through programs like the National Quantum Initiative Act, a direct investment strategy could represent an evolution in how the federal government supports innovation.
Still, questions remain about the legal authority and regulatory pathway for such investments. Analysts suggest that current frameworks, such as the Defense Production Act (DPA) Title III and certain Commerce Department programs, do not explicitly allow for equity acquisitions in private quantum firms without new congressional authorization.
Market and Industry Reaction
Rigetti’s price spike reflects renewed confidence in the quantum sector’s long-term potential. The company has positioned itself as a key player in superconducting qubit architectures and hybrid quantum-classical computing systems, both critical to accelerating quantum adoption.
“Government-backed equity could bring stability and scale to companies like Rigetti that are burning cash to maintain R&D leadership,” said one tech market analyst. “It also underscores the strategic urgency of quantum technology to national security.”
The reported talks also sparked renewed interest in other publicly traded quantum players, including IonQ and D-Wave Quantum, both of which saw modest gains during extended trading hours.
Still, the situation remains fluid. Without formal confirmation from the Commerce Department or the White House, these discussions appear exploratory rather than binding. Even so, they highlight Washington’s growing recognition of the dual-use nature of quantum technologies, with both civilian and military applications at stake.
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