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The quantum gold rush
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Plus: An AI executive order on standby.
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Friday, May 22, 2026
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U.S. markets are closed on Monday for Memorial Day, and so is the Quartz newsroom. There will be no Daily Brief on Monday, but we'll be back in your inbox on Tuesday
morning.
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Washington wants a piece of the quantum computing boom
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<div>
Nine quantum computing companies are set to share $2 billion in government grants, with the U.S. taking equity stakes in each firm as part of the arrangement, according to The Wall Street Journal. The funding comes from the 2022 Chips and Science Act enacted under President Joe Biden.
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<div>
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<div>
Of the total award, $1 billion goes to IBM, making it
the top beneficiary of the package. GlobalFoundries, the chipmaker, is in line for $375 million. D-Wave Quantum, Rigetti Computing, and Infleqtion are each expected to land $100 million, with the smallest disclosed allocation — $38 million — going to startup Diraq. The other firms expected to receive funding are Atom Computing, PsiQuantum, and Quantinuum. The deals still need to be formally completed.
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<div>
IBM confirmed a letter of intent with the Department of Commerce to build what the company calls America's first
purpose-built quantum chip foundry. A new standalone entity named Anderon, to be based in Albany, New York, will be the vehicle for the work, IBM said, with the company describing it as a 300-millimeter quantum wafer foundry built to serve a broad range of industry customers. IBM said it will contribute $1 billion of its own cash to Anderon, matching the government grant, along with intellectual property, assets, and staff.
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<div>
"With today's CHIPS Research and Development investments in quantum computing, the Trump
administration is leading the world into a new era of American innovation," Commerce Secretary Howard Lutnick said in a statement.
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Ending soon: Claim up to a $1,500 bonus before May 31
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Let’s do some quick math. If you have $50,000 sitting in a traditional bank account right now, you're likely earning a fraction of a percent in interest.
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If you moved that exact same amount to Raisin today, you wouldn't just earn more—you'd simplify how you save. Raisin lets you access and manage top-tier rates from over 100 partner banks and credit unions using one single login.
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Here is what happens when you make the move:
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<li>
<span class="ql-ui">
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<span style="font-size:15px;color:#000000;background-color:rgba(0,0,0,0)">
You can earn a 4.10% APY* with Everbank’s 90-day rate lock (about $1,990 in interest over the next year).
</span>
</li>
</ul>
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<span style="font-size:15px;color:#000000;background-color:rgba(0,0,0,0)">
You can get an additional cash bonus of up to $1,500¹ using code FRESHSTART by May 31
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<span style="font-size:15px;color:#000000;background-color:rgba(0,0,0,0)">
That could amount to over $2,340 in your pocket just for moving your money to a platform backed by FDIC- and NCUA-insured institutions.
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A small switch today can make a massive difference to your bottom line, but the bonus offer expires at the end of the month.
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[Explore rates and claim your bonus]
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<div>
<span style="font-size:10px;color:#6C6B6B">
*APY means Annual Percentage Yield. APY is accurate as of May 21, 2026. Minimum opening deposit is $1.00. For illustrative purposes only:* The projected $1,993 in interest assumes a $50,000 deposit is maintained for one full year (365 days). This projection assumes earning a locked 4.10% APY for the initial 90 days, and an assumed 3.95% APY for the remaining 275 days. After the 90-day rate lock period, the actual rate is variable and subject to change without notice.
Actual earnings may vary.
</span>
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<div>
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<div>
<span style="font-size:10px;color:#6C6B6B">
¹See site for important bonus details.
</span>
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Today's Poll
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Should the government invest in quantum?
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Yes. It's a national security play
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<!--[if mso]><a href="https://www.ne16.com/t/10765935/222404108/9832446/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNS0yMiUyMCUyOFVTJTI5&x=29fecc22"
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#105C8E; display: block; " target="_blank">
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<td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-size:16px;font-family:Arial,Helvetica,sans-serif">
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No. Leave business to the market
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<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10765935/222404108/9832447/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNS0yMiUyMCUyOFVTJTI5&x=df2453d7" target="_blank"
style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 16px; border: none; display: block; ">No. Leave business to the market</a><![endif]-->
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As long as there's an exit strategy
</a>
<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10765935/222404108/9832448/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwNS0yMiUyMCUyOFVTJTI5&x=601645fb"
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<span style="font-family:Arial;font-size:24px">
Here's what you need to know
</span>
</h1>
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<td class="snippet td100" colspan="6" style="width:100%;position:static;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
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<img alt="NurPhoto / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2276204408%2520%25281%2529.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3Nzk0NDQxMzguNDk2NzAzNH0:1wQMhu:x2UMihFyDYYE-dHbfyutNzcYByNK_sQn1O9Dhvyh8lM" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
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<div>
<strong style="color: var(--blue-cta-default); line-height: 1.4">
<a data-linktext="Anthropic is closing in on a first quarterly profit." data-linktype="Normal" style="color:#105C8E" target="_blank">
Anthropic is closing in on a first quarterly profit.
</a>
</strong>
<span style="line-height: 1.4">
The AI startup is expected to record operating income of $559 million in the second quarter on reported revenue of $10.9 billion. The profit milestone is rare in an
AI industry where the cost of computing power routinely outpaces revenue.
</span>
</div>
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<a aria-label="Matthew Horwood / Getty Images" style="color:#105C8E" target="_blank" title="Matthew Horwood / Getty Images">
<img alt="Matthew Horwood / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2262082736.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3Nzk0NDQxMzguNDk2ODM2NH0:1wQMhu:orAjQIa0gsltUKZP-LjucEIgusGYorLIxGYelmspqls" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
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<strong style="color: var(--blue-cta-default); line-height: 1.4">
<a data-linktext="Eli Lilly's
weight loss drug posts record results in an obesity trial." data-linktype="Normal" style="color:#105C8E" target="_blank">
Eli Lilly's weight loss drug posts record results in an obesity trial.
</a>
</strong>
<span style="line-height: 1.4">
Patients taking the maximum dose of its new drug retatrutide shed an average of 70.3 pounds over 80 weeks for a 28.3% reduction in body weight. Lilly also tested a lower 4 mg dose that produced average weight loss of 47.2 pounds.
</span>
</div>
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<a aria-label="Justin Sullivan / Getty Images" style="color:#105C8E" target="_blank" title="Justin Sullivan / Getty Images">
<img alt="Justin Sullivan / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2273589871.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3Nzk0NDQxMzguNDk2OTU0N30:1wQMhu:EsLgRu2cLQxddmrl3oGudq7LZ5I5ZPyRH7whI9RizfM" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
</a>
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<div>
<strong style="color:#105C8E;line-height:1.4">
<a data-linktext="U.S. jobless claims fall to their lowest level in months." data-linktype="Normal" style="color:#105C8E" target="_blank">
U.S. jobless claims fall to their lowest level in months.
</a>
</strong>
<span style="line-height: 1.4">
The decline in new applications to 209,000 is another sign that layoffs remain muted even as job cuts pile up across corporate America. But the "low-hire, low-fire"
dynamic has made it harder for displaced workers to land new positions.
</span>
</div>
</td>
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<a aria-label="Alexander Farnsworth / Getty Images" style="color:#105C8E" target="_blank" title="Alexander Farnsworth / Getty Images">
<img alt="Alexander Farnsworth / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2268983220.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3Nzk0NDQxMzguNDk3MDY0NH0:1wQMhu:xCnCAlvMcnqdzrAYQ1FAcLYVEe5ujLMPdyphsBk5UwM" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
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<div>
<strong style="color: var(--blue-cta-default); line-height: 1.4">
<a data-linktext="Walmart warns higher fuel
costs could weigh on margins." data-linktype="Normal" style="color:#105C8E" target="_blank">
Walmart warns higher fuel costs could weigh on margins.
</a>
</strong>
<span style="line-height: 1.4">
Even with a 7.3% increase in quarterly revenue to $177.8 billion, the retailer could not avoid the effect of $175 million in fuel-related costs. CFO John David Rainey said the charge will "be larger if fuel prices stay where they are."
</span>
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
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<a aria-label="Bloomberg / Getty Images" style="color:#105C8E" target="_blank" title="Bloomberg / Getty Images">
<img alt="Bloomberg / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2254260760.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3Nzk0NDQxMzguNDk3MTgxMn0:1wQMhu:yxg58RA5KXrz_PdrkIRSeMJdeZi8pNpD4OngDihSDVg" style="width:200px;max-height:338px;vertical-align:middle;border:0" width="200"/>
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<td class="editor-cell-text td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;vertical-align:top">
<div>
<strong style="line-height:1.4;color:#105C8E">
<a data-linktext="AMD is investing $10 billion in Taiwan to accelerate its AI chip push." data-linktype="Normal" style="color:#105C8E" target="_blank">
AMD is investing $10 billion in Taiwan to speed up its AI chip push.
</a>
</strong>
<span style="line-height: 1.4">
The investments focus on 2.5D chip packaging technology, which links chips
together to improve performance. They also support AMD's Helios rack-scale AI platform, which is on track for production later this year.
</span>
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
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<td class="td100" colspan="6" height="24" style="width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
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<td class="editor-cell-text td100" colspan="6" style="padding:10px;width:100%;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<h1 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:24px;font-weight:bold">
<span style="font-size:24px;font-family:Arial">
Recommended
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<table border="0" cellpadding="0" cellspacing="0" class="dragndrop" height="100%" style="table-layout:fixed" width="100%">
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<td class="mobilehide editor-cell-text td100" colspan="6" style="background-color:#E9F2F9;padding:20px;font-size:14px;line-height:1.5;width:100%;vertical-align:top;font-family:Arial,Helvetica,sans-serif;mso-line-height-rule:exactly">
<h2 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:20px;font-weight:bold">
Entrepreneurial Inspiration and its free
</h2>
<div>
<br/>
</div>
<div>
Stories, insights and what's working right now from Adam Wagner - an investor and advisor to Grüns, owner of Raindrop (the agency behind Dr. Squatch) and operator of
VitaWild.
</div>
<div>
<br/>
</div>
<div>
<strong style="color: var(--blue-cta-default)">
<a data-linktext="Subscribe To Adam Wagner's Newsletter" data-linktype="Normal" style="color:#105C8E" target="_blank">
Subscribe To Adam Wagner's Newsletter
</a>
</strong>
</div>
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<a aria-label="Linked image" style="color:#105C8E" target="_blank">
<img class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2226705587.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3Nzk0NDQxMzguNDk3MjkxM30:1wQMhu:_wM2q6DbBr2fJX-JgTcejJwyb6_UJ9D4p7oiYSvBSeA" style="width:600px;max-height:338px;vertical-align:middle;border:0" width="600"/>
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<span style="color:#808080">
Chip Somodevilla / Getty Images
<span class="ql-cursor">
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Trump isn't happy with his own AI executive order
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President Donald Trump postponed the signing of an executive order that would have required AI companies to provide the federal government with previews of models before their public release.
</span>
</div>
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<br/>
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<div>
<span style="line-height: 1.4">
Trump cited his dissatisfaction with the order as the reason for the delay. He said the signing ceremony for the order,
originally on his schedule for that afternoon, was called off "because I didn't like certain aspects of it." Concerns about competitive standing drove the decision, Trump suggested, warning that the measure risked undermining the country's position against China and describing it as something that "could have been a blocker."
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Under the draft order, AI developers would be required to give federal officials access to models before releasing them publicly. Executives from across the
technology industry had been expected to attend the ceremony.
</span>
</div>
<div>
<br/>
</div>
<div>
<span style="line-height: 1.4">
The delay marks a turn from what had appeared to be a shift in the administration's posture toward AI oversight. The White House had been considering an executive order that would establish a government review process for AI models before they are made publicly available, with executives at Anthropic, Google, and OpenAI among those briefed on aspects of the proposal.
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Let’s do some quick math. If you have $50,000 sitting in a traditional bank account right now, you're likely earning a fraction of a percent in interest.
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If you moved that exact same amount to Raisin today, you wouldn't just earn more—you'd simplify how you save. Raisin lets you access and manage top-tier rates from over 100 partner banks and credit unions using one single login.
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You can earn a 4.10% APY* with Everbank’s 90-day rate lock (about $1,990 in interest over the next year).
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</ul>
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<span style="font-size:15px;color:#000000;background-color:rgba(0,0,0,0)">
You can get an additional cash bonus of up to $1,500¹ using code FRESHSTART by May 31
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That could amount to over $2,340 in your pocket just for moving your money to a platform backed by FDIC- and NCUA-insured institutions.
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A small switch today can make a massive difference to your bottom line, but the bonus offer expires at the end of the month.
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<span style="font-size:10px;color:#6C6B6B">
*APY means Annual Percentage Yield. APY is accurate as of May 21, 2026. Minimum opening deposit is $1.00. For illustrative purposes only:* The projected $1,993 in interest assumes a $50,000 deposit is maintained for one full year (365 days). This projection assumes earning a locked 4.10% APY for the initial 90 days, and an assumed 3.95% APY for the remaining 275 days. After the 90-day rate lock period, the actual rate is variable and subject to change without notice.
Actual earnings may vary.
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¹See site for important bonus details.
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