The U.S. government plans to "directly invest" in quantum computing companies. Is Trump-style capitalism coming?

The Trump administration is reportedly considering directly investing in quantum computing companies, creating a new model for American taxpayers to share in technological dividends. (Background: Not just Intel! The Trump administration's “subsidy for equity” program extends to TSMC and Samsung, with national capital gaining momentum.) (Further background: Google Willow chip introduces “quantum echo” algorithm: 13,000 times faster than supercomputers, is Bitcoin no longer safe?) Washington has begun discussing the new term “quantum shareholders,” and will the U.S. national industrial policy evolve to the next chapter due to Trump? According to the Wall Street Journal, the Trump administration is reportedly negotiating with companies such as IonQ, Rigetti Computing, and D-Wave Quantum to exchange federal funds for direct equity, with an initial amount of at least $10 million. If negotiations are finalized, taxpayers will no longer just be providers of subsidies but co-owners in the quantum era. A major shift in U.S. government funding This concept is led by U.S. Deputy Secretary of Commerce Paul Dabbar, who founded Bohr Quantum Technology and has long been focused on the quantum industry, now attempting to act as an “early-stage investor” for the government. The U.S. Department of Commerce plans to distribute funds through the CHIPS Research and Development Office, referencing previous practices of converting 10% equity in subsidies to Intel. Unlike traditional subsidies, this program allows the U.S. government to gain board seats or dividend possibilities in companies, aiming to ensure public funds receive returns and directly influence company decision-making at the board level. For national security? For global competition? Quantum technology is seen as the next strategic high ground, capable of accelerating code-breaking, drug design, and most importantly, artificial intelligence computing. At this time, the U.S. is strengthening its layout, with two layers of consideration: one is to respond to China's and Europe's heavy investments in quantum research; the other is to secure industry dominance that may bring sensitive data and algorithms, directly grasping the probes of the industry. When the U.S. government elevates its role from “capital provider” to “shareholder,” it can leave a dominant space in areas such as patent cross-licensing, export controls, and priority supply of products. Market pulse and industry temperature After the news broke, quantum group stocks soared: Rigetti rose 15.6%, D-Wave rose 16.3%, Quantum Computing Inc. rose 12.8%, IonQ rose 14.7%. Quantum Computing Inc. CEO Yuping Huang enthusiastically welcomed the government's investment, stating, “We are excited about this.” Rigetti revealed it is in “ongoing dialogue” with the government. D-Wave stated that the technology “can solve problems for the government and bring back investment returns.” IonQ and Atom Computing chose silence, reflecting the industry's lingering doubts about deep government involvement. Risk questions: valuation, governance, and exit Supporters believe that allowing taxpayers to share in the success is a reasonable return; critics worry that the government shareholder identity may affect company freedom, distort market competition, and even trigger restrictions on foreign cooperation. Quantum computing itself still faces technical challenges such as error correction and qubit stability, and any investment may not see returns for a long time. Furthermore, if the government needs to exit in the future, it also lacks past experience to refer to in terms of how to value and sell equity to an entity. As of late October, negotiations had not yet been signed, and the U.S. Department of Commerce stated externally that “there are no negotiations with specific companies,” but several industry insiders revealed that document exchanges have been ongoing for weeks. The outside world expects that if the quantum equity model is feasible, the next step may spread to artificial intelligence, biotechnology, and new energy sectors. After semiconductors, the Trump administration takes action again, signaling not just venture-style bets but also issuing a warning in the global technology race: the boundaries between the state and the market are being restructured after being broken by Trump. Related reports Solana founder warns Bitcoin is about to be cracked: it will collapse if not upgraded against quantum before 2030 The quantum leap of Bitcoin: How will everything change by 2030 This article was first published in BlockTempo, the most influential blockchain news media.