Trump Admin Launches $215M Quantum Competition: IonQ, D-Wave, Rigetti Take Notice

The Department of Energy (DOE) is putting up to $215 million behind a single goal: a quantum computer that actually corrects its own errors and does useful science by 2028. IONQ stock is on watch. See the real-time price action here. The DOE on Thursday announced the Quantum Genesis Q Competition, a milestone-based program to deploy the world’s first fault-tolerant, scientifically relevant quantum computer, or SRQC. The agency is asking domestic commercial entities to submit plans for machines with at least 100 logical qubits capable of hundreds of millions of fault-tolerant operations, plus a scientific demonstration program proving the hardware does real work. Payment for Proof Money comes in stages. Phase I pays fixed milestone awards of up to $1.5 million per awardee—$2...