D-Wave, Rigetti, and Quantinuum Just Got $300 Million From Washington. Here's What That Changes for Investors.
Washington is now a shareholder in these quantum computing companies.
Overview
Rigetti Computing (NASDAQ: RGTI), D-Wave Quantum (NASDAQ: QBTS), and Quantinuum (NASDAQ: QNT) all officially have a new backer: the U.S. government.
On Tuesday, all three companies announced that they had finalized funding agreements with the Commerce Department. In exchange for up to $100 million each in funds earmarked for R&D and commercialization under the CHIPS Act, the government will receive ownership stakes in the three quantum computing pure plays. Those won't be controlling stakes. However, the finer details, like exactly how large the government's stake in each company will be, have not been revealed.
Details
Let's take a look at what each company is planning on doing with the investments.
Source
Originally published at www.fool.com.
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