Trump is giving quantum computing a boost! He signed an executive order to accelerate research and development, aiming to produce commercial quantum computers for research by 2028.

President Trump signed an executive order on Monday aimed at accelerating quantum research, laying the groundwork for federal agencies to adopt the technology, and strengthening the country's defense capabilities against cyber attacks. Speaking at the White House, Trump said the orders will elevate the United States to a global leader in this "very important emerging field." He stated, "We are already well ahead, and now we will be even further ahead." Quantum computing is a nascent field but has profound implications for national security, sparking a competition between the United States and China for dominance. Alphabet CEO Sundar Pichai and IBM CEO Arvind Krishna also attended the ceremony with Trump. IBM's stock rose 2.4% in after-hours trading. The first order will kickstart an effort to create a quantum computer capable of performing significant scientific calculations. White House officials, who briefed the media anonymously before the signing, believe such a computer can be developed by 2028. The order also requires agencies to develop plans to deploy quantum-capable sensors and networks in the next five years. Additionally, it supports coordination with allies to protect quantum intellectual property and strengthen supply chains. The second order aims to accelerate the deployment of algorithms to defend against quantum network attacks, requiring high-value assets of agencies to transition to these standards known as "post-quantum cryptography" by 2031. While quantum technologies are mostly theoretical and not yet proven at a large scale, they may one day be powerful enough to break current standard encryption technologies being widely used to protect the privacy of vast amounts of information like bank transactions. The Department of Commerce approved three algorithms that can run on traditional computers by 2024, believed to resist potential quantum network attacks. The US has long been searching for ways to protect itself from such attacks, with a Commerce Department office seeking risk-reducing technologies since at least 2016. White House officials declined to reveal which companies the US will collaborate with to execute these orders. However, the orders include a directive for government to partner with domestic industry participants according to a briefing, likely providing widespread support for the quantum industry. This year, valuations of quantum computing companies surged significantly as investors bet on the next potential technological breakthrough amidst increased focus on artificial intelligence. Officials stated the Department of Energy will set technical specifications for constructing a research-based quantum computer, cautioning that this is just a step towards more powerful quantum systems. The computer is expected to be delivered to national laboratories or other Energy Department facilities. The Trump administration has positioned itself to benefit from the industry's success. In May, the Department of Commerce announced over $2 billion in funding for a stake in a group of quantum computing companies, including IBM and Google. IBM Corp received $1 billion in funding, while Google received $375 million. Companies like D-Wave Quantum, Rigetti Computing, and Infleqtion will each receive around $100 million in support. For decades, technology experts and physicists have been trying to leverage the baffling mechanics of quantum physics to create quantum computers exponentially more powerful than traditional machines. The industry has made some breakthroughs but is still working to overcome challenges to scale the technology for practical applications. The order calls for NASA, as well as the Departments of Commerce, Defense, and Energy, to deploy quantum-capable sensors and networks, which may stimulate demand for companies producing these products. Agencies can utilize existing funds to adopt quantum technology and build research-focused quantum machines in coordination with the Office of Management and Budget. The order signed on Monday also includes initiatives to better protect the quantum industry from espionage activities and expand the workforce through apprenticeship and other means.