IBM Stock Surges 7% as U.S. Plans $1B Quantum Investment on May 20

GateNews
IBM8.85%
According to reports, IBM stock surged over 7% in premarket trading to $236.25 on May 20, following the U.S. government's announcement to invest $1 billion in the company as part of a broader $2 billion quantum computing initiative. The U.S. Commerce Department plans to distribute the funding across nine domestic quantum computing firms, with IBM as the largest beneficiary, receiving half of the total allocation. IBM closed at $225.00 on May 20, up 1.20% from the previous session.
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