Federal Funding

The U.S. government is reportedly exploring equity stakes in quantum computing firms in exchange for federal funding, signaling a strategic push to secure leadership in this critical technology. While denied by the Commerce Department, the initial report spurred market gains for companies like IonQ, D-Wave, and Rigetti. This potential move aligns with Washington’s trend of acquiring stakes in companies deemed vital to national security, reflecting concerns about technological competition, particularly with China, and the need to bolster domestic capabilities in strategic sectors like rare earths and semiconductors.

A federal report reveals significant issues plaguing California’s High-Speed Rail project. After 17 years and $16 billion invested, no track has been laid. Facing a July 11 deadline, the project must satisfy the U.S. Department of Transportation or risk losing $4 billion in federal funding. Costs have ballooned from $33 billion to $128 billion, with completion now projected for 2033. Delays stem from land acquisition, lawsuits, and management problems. Public confidence is low, with over 53% of voters losing faith.