The US government takes a $2 billion investment in nine quantum computing companies

“These high-tech investments can be concentrated in our domestic industries, creating thousands of high-paying American jobs and advancing American innovation,” he added.

The move is the latest in a series of attempts by the Trump administration to intervene in the market, offering capital to companies in the smart sectors, such as semiconductors and minerals, in exchange for equity shares.

Last year, the Department of Commerce took a 10 percent stake in Intelby replacing $2.2 billion in funds under the Joe Biden-era Chips Act and $8.9 billion in federal funds that were awarded but not paid.

Since then, several companies have received smaller investments, including Vulcan Elements, a little-known startup in the world with about 30 employees, in which Trump Jr.’s main company invested.

Notably absent from the list of companies that signed letters with the Commerce Department on Thursday was IonQ, a leading technology company that has attracted significant investment from Cerberus, the company founded by Donald Trump’s deputy defense secretary, Stephen Feinberg.

The increased announcement in the US comes as other countries such as the UK are increasing their investment in technology and related sectors.

The ability of quantum computers to use unusual materials at the atomic and subatomic level allows them to perform calculations much faster than existing machines.

But significant technical hurdles remainsuch as making the machine more error-proof, while companies are arguing about which technology works best.

The deals revealed Thursday are not final, and regulators said they are still soliciting proposals from other high-profile companies. Intel is facing a lawsuit over its deal with the US government.

Additional reporting by Alex Rogers.

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