US Weighs Quantum Computing Boost as Trump Admin Creates De Facto Sovereign Wealth Fund

The Trump administration is in early-stage conversations with quantum computing companies to discuss potential financial support for an industry that’s part of the growing race with China for technology supremacy. Commerce Department officials have discussed with industry executives the potential to use Chips Act money to back projects and companies it deems critical to national security, according to people familiar with the matter. This latest move comes as experts say the Trump administration has actually been operating a de facto sovereign wealth fund thanks to a recent government stake in Intel, plans for a Pentagon stake in MP Materials, and more. Bloomberg News Economic Statecraft Reporter Joe Deaux and Senior White House Correspondent Josh Wingrove join Bloomberg Businessweek Daily to discuss. They speak with Carol Massar and Tim Stenovec. (Source: Bloomberg)