The Trump administration is awarding $2 billion in grants to nine quantum-computing companies in deals that include U.S. government equity stakes, the Commerce Department said, the Wall Street Journal reported.

Quantum computing stocks surged. D-Wave Quantum, Rigetti Computing rose 27% each; Arqit Quantum up 25%; Quantum Computing rose 17%; SEALSQ Corp rose 15%.

The move accelerates the administration's plans to boost the nascent industry, which has attracted a wave of investment from investors and businesses in recent months.

The department has agreed to give $1 billion of the package to IBM, a leader in the race to build computers that use quantum mechanics to solve problems much faster than traditional supercomputers. Coupled with advances in artificial intelligence, quantum computing has the potential to turbocharge scientific research, making it an economic and national security priority for President Trump.

IBM and other companies are working to develop specialized chips for quantum computing, a focus for the government in its bid to spur domestic supply chains. Chip maker GlobalFoundries is receiving $375 million in funding. The rest of the firms are expected to receive $100 million, except for startup Diraq, which is slated to get $38 million.

A slew of companies pursuing various approaches to quantum are slated to be awarded funds, including publicly traded firms Quantum Computing, Rigetti Computing and Infleqtion.

The deals still need to be completed.

The funding for the quantum deals comes from the 2022 Chips and Science Act, which includes money for earlier stage technology projects. Commerce Secretary Howard Lutnick has overhauled the office, asking semiconductor companies to increase their domestic investments and taking a nearly 10% stake in Intel, which has seen shares surge since the unusual deal.