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| By Sean Brodrick |
The Trump administration is ready to write some big checks … checks that could be launch pads for small quantum computing stocks.
The White House is finalizing a federal investment initiative modeled after earlier equity-based interventions such as its stake in Intel (INTC).
The plan would use CHIPS Act funds and Commerce Department capital to take partial ownership stakes in a handful of promising quantum computing companies.
This is a big shift from the usual grant-and-contract model.
A New Quantum Push
The goal is simple: keep America’s quantum crown jewels at home.
This new initiative aligns with the administration’s upcoming executive action on quantum technology, aimed at fortifying three pillars:
- Domestic hardware production for quantum processors and photonic chips.
- Cybersecurity through post-quantum cryptography — the next frontier of encryption.
- Quantum-secure infrastructure for federal and defense systems.
Commerce Department officials have floated $10 million minimum investments per firm, convertible into equity stakes.
That’s small money by Washington standards. But it could be a game changer for mid- and small-cap innovators.
The Short List
So, who’s getting the calls?
A handful of publicly traded quantum specialists are already in active talks with the administration:
- IonQ (IONQ) — Trapped-ion hardware leader supplying U.S. defense and research labs. Already expanding through its Oxford Ionics partnership.
- Rigetti Computing (RGTI) — Developer of superconducting quantum chips with U.S. Air Force and commercial R&D ties.
- D-Wave Quantum (QBTS) — Canadian-based, U.S.-operating pioneer in quantum annealing, used for government optimization problems.
- Quantum Computing (QUBT) — Micro-cap hybrid quantum middleware firm, recently awarded a National Institute of Standards and Technology (NIST) contract for its photonic chip platform.
Each of these names sits below the $2 billion market cap line.
That gives them immense torque if federal funding actually lands.
Note: Weiss Ratings does not give these companies high marks. But Weiss Ratings can’t account for government contracts that haven’t been announced yet.
Quantum’s Ripple Effect
Beyond the core pure plays, a broader constellation of adjacent and enabling companies could benefit as the money starts flowing through the pipeline of Department of Energy (DOE) and National Science Foundation (NSF) quantum programs.
- FormFactor (FORM) — A specialty test-and-measurement play with cryogenic gear already used in advanced device R&D.
- Arqit Quantum (ARQQ) — A quantum-safe encryption vendor perfectly positioned for the government’s coming mandate for Post-Quantum Cryptography (PQC) — encryption methods that future quantum computers can’t break.
- SEALSQ (LAES) — This micro-cap is developing post-quantum secure chips, among other things. Its shares have traded in sympathy with quantum-sector headlines.
- Quantinuum. This company is still private, but on track for a public listing once Honeywell (HON) completes its 2026 breakup. It’s arguably America’s strongest industrial-scale quantum research platform.
- Coherent (COHR), Lumentum (LITE), IPG Photonics (IPGP) — Photonics and laser makers that supply the “picks and shovels” behind quantum experiments.
Policy Tailwinds
The White House, DOE and NSF are all spinning up 2025 funding calls — from the National Quantum Information Science Research Centers to the Quantum Virtual Lab initiative.
These are the pipes through which the dollars will flow.
The White House’s equity stake strategy could deliver a near-term price adjustment across the pure-play quantum complex.
The first-order winners are likely to be IONQ, RGTI, QBTS and QUBT, with ARQQ, LAES and future Quantinuum exposure as second-order trades.
Meanwhile, those companies that make hardware that enables quantum computing — COHR, LITE, IPGP, FORM — should be lower-risk plays on the build-out of America’s next high-tech frontier.
The Bottom Line
The government’s next big tech investment is going to be a quantum wave.
If Washington starts taking actual ownership stakes in small, innovative hardware firms, it won’t just be subsidizing research …
It’ll be picking winners in a trillion-dollar race for computational dominance.
The smart money will get on board before the announcements roll out.
All the best,
Sean
