Quantum Computing (QUBT) Stock Is Trending Overnight: Here's Why

Quantum Computing, Inc. (NASDAQ:QUBT) shares are trending on Friday.

QUBT shares jumped 5.78% to $12.07 in after-hours trading after closing the regular session up 19.35% at $11.41.

The rally followed reports that the Trump administration plans to award roughly $2 billion to companies in the quantum computing sector under the CHIPS and Science Act.

CHIPS Funding

According to the report, IBM is expected to receive $1 billion, while GlobalFoundries could receive $375 million.

D-Wave Quantum Inc. (NYSE:QBTS), Rigetti Computing, Inc. (NASDAQ:RGTI) and Infleqtion, Inc. (NASDAQ:INFQ) are reportedly set to receive $100 million each.

The funding comes through the CHIPS and Science Act as Washington pushes to strengthen domestic quantum computing capabilities and reduce dependence on foreign supply chains.

Commerce Secretary Howard Lutnick said the investments would help support American quantum leadership and create high-paying domestic jobs.

Quantum Computing develops integrated photonics and quantum optimization technology designed for cybersecurity, remote sensing and high-performance computing applications.

Separately, QTREX Quantum Ltd. – Ordinary Shares (NASDAQ:QTEX) said Thursday it is in advanced discussions with one of the world's top-five quantum computing companies regarding a potential strategic collaboration tied to quantum hardware infrastructure.

Quantum Computing was not named among the expected funding recipients, but investors broadly pushed quantum-related stocks higher following the report.

Trading Metrics, Technical Analysis

The stock remains below its 52-week high of $25.84 but above its 52-week low of $6.18.

Quantum Computing currently has a market capitalization of about $2.57 billion.

Over the past 12 months, Quantum Computing Inc. shares have declined 5.47%.

Currently, the stock is trading about 84% above its 52-week low of $6.18.

Benzinga Edge Stock Rankings indicate that Quantum Computing Inc. stock has a positive price trend in the short and medium term, while the long-term trend remains negative.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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