0938 GMT - Quantum-computing stocks' longer-term response to investment in the industry announced by the Trump administration is difficult to gauge, Jefferies' Aniket Shah writes. The U.S. Commerce Department is awarding $2 billion in grants across nine companies in return for minority equity stakes, with IBM receiving $1 billion as the biggest beneficiary. However, the long-term impact of government involvement on companies' share performance is unclear. Some companies receiving direct government investment have seen share price gains, while others have fallen. "The initial market reaction to equity stake announcements has been broadly positive, but returns diverge over a longer horizon with no clear pattern," the analyst says. IBM shares rise 3.15% premarket, extending a 12.4% gain in the last session. GlobalFoundries and Infleqtion are among a clutch of other quantum companies gaining premarket, with the pair up 3.9% and 6.8%, respectively. (josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

May 22, 2026 05:39 ET (09:39 GMT)

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