FINWIRES · TerminalLIVE
FINWIRES

IBM Plans $10 Billion Investment in Quantum Computing

By

International Business Machines (IBM) said Thursday in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development, including through research and development, capital expenditures, ecosystem partnerships, manufacturing scaling, and mergers and acquisitions.

The company said the investment further strengthens its confidence in delivering the first large-scale fault-tolerant quantum computer by 2029.

This investment announcement follows last week's letter of intent between IBM and the Department of Commerce to build Anderon, an American quantum chip foundry, to accelerate quantum innovation, according to the filing.

Shares of IBM rose more than 3% in Thursday trading.

Price: $263.65, Change: $+8.45, Percent Change: +3.31%

Related Articles

Wire

Dell Technologies Unit Wins $9.69 Billion US Navy Contract

Dell Technologies (DELL) unit Dell Federal Systems won a blanket purchase agreement with an overall estimated value of $9.69 billion from the US Navy under the Department of Defense Enterprise Software Initiative.The agreement will streamline software acquisition across the Defense Department, the intelligence community, and the US Coast Guard, according to a statement.The deal will allow clients to procure Microsoft (MSFT) software licenses, cloud subscriptions, and Software Assurance, according to the Department.

$DELL$MSFT
Wire

Dave to Replace American Woodmark in S&P SmallCap 600

Dave (DAVE) is set to replace American Woodmark (AMWD) in the S&P SmallCap 600 before trading begins Monday, S&P Dow Jones Indices said.MasterBrand (MBC) is acquiring American Woodmark in a deal expected to close May 29, the S&P Global (SPGI) unit said Wednesday in a statement.Dave shares rose 4.2% in after-hours trading.

$AMWD$DAVE$SPGI
Wire

Citi Trends Reports Preliminary Fiscal Q1 Sales, Lifts FY Comparable-Store Sales Outlook

Citi Trends (CTRN) reported fiscal Q1 preliminary sales late Wednesday of $230.9 million and raised its full-year outlook for comparable-store sales growth.A year earlier, sales were $201.7 million.Comparable-store sales growth in fiscal 2026 is expected to range from 8% to 10%, compared with the prior 5% to 7% forecast, the company said.Citi Trends also lifted its full-year adjusted EBITDA guidance to $35 million to $40 million from the previous outlook of $34 million to $38 million.Citi Trends shares rose 10% in after-hours trading.

$CTRN