IBM Shares Rise After Trump Praise at Quantum Summit
Shares of IBM increased 3.75% in after‑hours trading on Monday following a public commendation by President Donald Trump at a White House signing ceremony focused on quantum technology. Trump singled out IBM Chief Executive Officer Arvind Krishna, describing him as “a great man” doing “a really great job.” The president also joked that he had owned IBM stock before taking office and sold it when he became president.
During the ceremony Trump signed two executive orders. The first establishes a five‑year, government‑backed program 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 data against future quantum decryption.
The gathering included other leading figures: Google President Ruth Porat, Inflection CEO Matthew Kinsella, and Nobel‑Prize‑winning quantum physicist John Martinez Goldman. Trump also referenced the National Quantum Initiative Act of 2018, noting that the legislation had doubled federal investment in domestic quantum research and development.