TechJun 23, 2026
Trump's Quantum Computing Orders Spark Rally in Quantum Stocks
Rhea Lobo
Quantum computing has spent years as a lab curiosity. Now Washington is treating it like a strategic weapon.
Two executive orders signed by President Trump on June 22 put hard deadlines on technology that most companies hadn't planned to deliver until the end of the decade.
The first order establishes a program called the Quantum Computer for Application Development and Discovery Science. It directs the Department of Energy to house a quantum computer at a national lab by 2028.
IBM doesn't expect to hit that mark until 2029. Most other companies are targeting 2030 or later.
The second order fast-tracks post-quantum cryptography across federal systems by 2031. Post-quantum cryptography is a new type of encryption designed to protect data from future quantum computers. Google has warned that quantum machines capable of breaking today's encryption could arrive as early as 2029.
The orders also direct NASA, the Commerce Department, and other agencies to develop five-year plans for quantum sensing and networking.
Markets responded immediately. Infleqtion surged despite a broad tech selloff that pushed semiconductor names like Marvell and Micron down.
Infleqtion develops quantum sensors and atomic clocks with national security applications and has already delivered updated quantum hardware to the International Space Station through a NASA partnership. Its CEO Matt Kinsella attended the White House signing, which analysts noted likely amplified investor attention.
IBM rose on the announcement, boosted both by the executive orders and a separate upgrade from J.P. Morgan to Overweight. D-Wave Quantum, IonQ, and Rigetti Computing also rose.
D-Wave had its own news running in parallel. The company launched a new quantum simulator that lets developers test gate-model quantum concepts on its Leap cloud platform before the underlying hardware is fully ready.
D-Wave's first-quarter 2026 revenue came in at $2.86M, down sharply from $15M a year earlier. That comparison was distorted by a one-time $12.6M annealing system sale in the prior period.
Bookings told a different story, jumping to $33.4M, a 1,994% increase year over year. The company ended the quarter with $588.4M in cash.
Mizuho raised its price target on D-Wave to $35 from $29. Roth Capital lifted its target to $40 from $30. The consensus sits at Strong Buy with an average target of $38.31.
This isn't the first policy-driven rally in the sector. A $2B Commerce Department funding package announced in May triggered gains of more than 30% for D-Wave and Rigetti.
That initiative included equity stakes in smaller firms and a partnership with IBM to build a dedicated quantum foundry. The pattern is consistent: government announcements move quantum stocks sharply and quickly.
The White House has now stacked executive orders on top of direct funding and equity stakes.
"When President Trump published a letter to me in early 2025, he prioritized quantum as a key industry for America to lead the world alongside AI and nuclear energy," said Michael Kratsios, White House Science and Technology Advisor.
For investors, the core question is whether the companies best positioned to capture government contracts and supply chain buildout are already priced for that outcome.
