US quantum sector surges after executive orders as IQM eyes SPAC listing

President Trump signed two executive orders on June 22, 2026 that direct the Department of Energy, Commerce and the Intelligence Community to deliver a federal quantum computer by 2028 and to transition high‑value assets to post‑quantum cryptography by 2030‑31. The orders allocate $2 billion under the CHIPS and Science Act and set hard procurement deadlines, prompting a rally in publicly traded quantum hardware firms. IonQ reported 755 % year‑over‑year revenue growth, D‑Wave booked $33.4 million in the quarter, and Rigetti secured a letter of intent for up to $100 million from the Department of Commerce.

Separately, European quantum‑computing company IQM announced a merger with Real Asset Acquisition Corp. that, if approved at a shareholder vote on June 25, will list its American depositary shares on Nasdaq under the ticker IQMX. The transaction values IQM at roughly $1.9 billion, provides up to $477 million in cash, and follows a 2025 revenue of about $36 million and a backlog of $77 million. IQM has delivered 23 quantum computers to customers that include four of the world’s top ten supercomputing centers, positioning the firm as a commercial player as quantum technology is seen to complement AI and unlock trillions of dollars of economic value.