IBM Stock Surge Following White House Quantum Summit
IBM shares rose more than 3% in pre‑market trading on Tuesday after President Donald Trump publicly praised IBM Chief Executive Officer Arvind Krishna during a White House signing ceremony focused on quantum technology. Trump described Krishna as “a great man… doing a really great job” and joked that he had previously owned IBM stock, which he sold after becoming president.
During the ceremony Trump signed two executive orders. The first orders a five‑year national effort to develop a fully operational quantum computer together with quantum‑enabled networks and sensors. The second mandates that all federal agencies transition their computer systems to post‑quantum cryptography by 2031 to safeguard government data against future quantum decryption. Trump referenced the 2018 National Quantum Initiative Act, noting it had doubled federal investment in domestic quantum research and development.
The event was attended by leading technology figures, including Google President Ruth Porat, Inflection CEO Matthew Kinsella, and Nobel‑Prize‑winning quantum physicist John Martinez Goldman.
JPMorgan analysts upgraded IBM to an Overweight rating, raising the price target from $270 to $291, citing greater confidence in software acceleration and the potential for IBM to benefit as an AI infrastructure provider. The upgrade was led by analyst Brian Essex, with contributions from Vahid Karaahmetovic.