When Washington Buys Into Quantum

The Commerce Department finalized up to $100 million each in milestone-based CHIPS research awards for D-Wave, Rigetti and Quantinuum, taking minority, non-controlling equity stakes in return. The deals turn quantum policy into a test of direct government ownership: can public investment build a domestic strategic industry and create taxpayer upside, or does it expose Washington to uncertain technology, valuation and political risks?

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