May 2026 has been a rollercoaster month for companies in the quantum computing industry, as leaders like D-Wave Quantum Inc. (NYSE: QBTS), IonQ Inc. (NYSE: IONQ), and Rigetti Computing (NASDAQ: RGTI) fell for much of the month, despite some promising Q1 results, before surging sharply toward month-end.
The swing upwards may be due to a recent announcement that the federal government is interested in providing incentives to a handful of domestic quantum firms. The U.S. Department of Commerce recently signed letters of intent with nine quantum computing companies—including both foundries and broader computing names—to provide more than $2 billion in funding through the CHIPS and Science Act.
