Quantum Computing Stocks Climb as Rigetti, IonQ Tapped for Department of Defense Program

Key Takeaways

Shares of Rigetti Computing (

RGTI

) and IonQ (

IONQ

) led a quantum computing stock rally Monday in the wake of a new government initiative and as
artificial intelligence stocks rebounded
from their recent tariff-fueled selloff.

The Defense Advanced Research Projects Agency, which operates under the Department of Defense, late last week announced 15 companies for a program it said will explore whether it’s possible to build a “useful” quantum computer that “can achieve utility-scale operation—meaning its computational value exceeds its cost” by 2033.

Rigetti shares jumped about 11%, while IonQ added 10% Monday after being named for the program. Hewlett Packard Enterprise (

HPE

), which also made the list, saw its shares rise 4%.

Some quantum companies not selected got a boost, too, as
D-Wave Quantum
(

QBTS

) shares gained close to 5% and Quantum Computing (

QUBT

) added 4%. Nvidia (

NVDA

), which Rigetti has partnered with, also saw its stock climb.

The gains came even as worries about new tariffs continued to weigh on broader markets, with the Dow and S&P 500 posting losses. The tech-heavy Nasdaq, however, finished Monday’s session with a slight gain of 0.1%. (Read

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