Quantum Computing Stocks Soar as JPMorgan Pledges $10B in Strategic Tech Investments
Quantum computing stocks surged Monday after JPMorgan Chase unveiled plans to back the sector as part of a sweeping new investment program.
The banking giant announced it will commit up to $10 billion across four key areas: advanced manufacturing and supply chains, defense and aerospace, clean energy technology, and frontier innovations such as quantum computing.
Shares of several quantum players jumped on the news. Arqit Quantum rose 20%, D-Wave Quantum surged 23%, Rigetti Computing rallied 25%, while IONQ climbed 16% and Quantum Computing Inc. advanced 12%.
“It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products, and manufacturing – all of which are essential for our national security,” said JPMorgan CEO Jamie Dimon.
The initiative, dubbed the Security and Resiliency Initiative, is part of a $1.5 trillion decade-long strategy to strengthen industries viewed as vital to U.S. national and economic security.
Quantum computing, one of 27 specialized areas highlighted by JPMorgan, has already seen extraordinary gains in recent weeks. Shares of Rigetti and D-Wave have soared more than 175% and 130%, respectively, over the past month.
Big Tech firms are also ramping up their presence in the space. Google, Microsoft, and Amazon are all investing heavily in gate-model quantum computing, which could solve problems beyond the reach of today’s supercomputers.
Rigetti and IONQ systems are already available on Amazon Braket, the cloud-based quantum service run by Amazon Web Services. Meanwhile, Microsoft unveiled its first quantum chip, Majorana 1, earlier this year, while Google announced a breakthrough chip, Willow, in late 2024.
