Trump Administration in Talks With Quantum-Computing Firms
The Trump administration is reportedly negotiating with multiple quantum computing firms to acquire ownership shares in return for government funding, according to reports. The reports indicate that firms such as IonQ, Rigetti Computing, and D-Wave Quantum are in conversations about allowing the government to become a stakeholder through these arrangements, with talks involving minimum federal funding commitments of $10 million per company.
Additional companies like Quantum Computing and Atom Computing are also exploring comparable deals, according to reports.
Also Read: Netflix Stocks Crash Post Missing Wall Street's Earnings Targets
Previously this year, Trump announced plans for the US to obtain a 10 percent ownership position in Intel by converting government subsidies into equity, representing another significant government intervention in American business operations.
Additional transactions include a Pentagon agreement to become the primary shareholder in MP Materials, a small mining operation focused on increasing rare earth magnet production, and the US government securing a special voting share with veto authority as part of approving Japan's Nippon Steel acquisition of U.S. Steel.
Also Read: Meta in Deal With Blue Owl Capital for Louisiana Data Center
According to reports, US Deputy Commerce Secretary Paul Dabbar, who previously worked as a quantum computing executive and Energy Department official, is spearheading the funding negotiations with industry companies.
The White House is reportedly developing executive action related to quantum technology within federal operations.
Reports indicate that roughly two executive measures concerning quantum information sciences and technology, along with post-quantum cryptography transition initiatives, have been under development since the beginning of summer. Additionally, the final number could range from one to three orders, reflecting the breadth of quantum technology issues the administration aims to tackle.
The planned executive action is expected to establish additional guidelines for agency deadlines to transition their digital systems to post-quantum cryptographic standards before the emergence of a fault-tolerant quantum computer.
Also Read: Coca-Cola to Mull $1 Billion IPO of Indian Bottling Arm
During his first presidency, Donald Trump previously led significant policy initiatives regarding quantum information sciences and technology, most notably enacting the National Quantum Initiative Act.