Trump Praises IBM CEO, Regrets Early Stock Sale Amid Quantum Computing Push
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- President Trump lauded IBM CEO Arvind Krishna for semiconductor advances and quantum computing investments, while admitting regret over selling IBM stock too early.
- The administration also announced an executive order to accelerate quantum computing development.
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President Trump praised IBM CEO Arvind Krishna for the company's semiconductor manufacturing advancements and announced an executive order to accelerate quantum computing development, with federal funding allocated to quantum tech firms.
US President Donald Trump recently praised IBM CEO Arvind Krishan for the company’s advances in semiconductor manufacturing, but also admitted that he regrets sharing his IBM shares too early. As reported by Benzinga, speaking in the Oval Office while signing executive orders, Trump commended Krishna’s leadership and IBM’s investments in advanced fabrication. “What a job you’ve done… We invested in his fab. He’s got a leading fab,” Trump said. He then made a personal aside about his past investment: “I used to have that stock when it was much much lower. I brilliantly sold it when I became president. That was not a good move.”
Federal backing for quantum computing
The remarks made by Trump came as his administration announced a new executive order in order to accelerate quantum computing development, targeting research-capable quantum computers by 2028 and mandating quantum-resistant encryption by 2030-2031. The Commerce Department recently awarded $2 billion to quantum tech firms under the CHIPSand Science Act, including $1 billion for IBM to establish a quantum foundry in Albany, New York. IBM matched the federal funding with its own $1 billion investment and separately pledged $10 billion over five years to build the world’s first fault-tolerant quantum computer by 2029.
IBM stock momentum
IBM’s stock surged nearly 30% earlier this month after an old clip of Trump praising Krishna went viral. Analysts, including Wedbush’s Dan Ives, have described IBM as a “sleeping giant” with significant growth potential, reinforced by federal backing.
Trump’s investments under scrutiny
Trump’s comments also drew attention to his personal investments. Ethics filings show he purchased shares in Dell Technologies and NVIDIA shortly before publicly praising Dell and before a policy decision that benefited Nvidia’s China sales. The White House said Trump’s investments are held in an independently managed trust and that he has no involvement in trading decisions.
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US aims for research-capable quantum computers by 2028.
Wahrscheinlich · Innerhalb von Jahren
Quantum-resistant encryption mandated by 2030-2031.
Wahrscheinlich · Innerhalb von Jahren
IBM to build world's first fault-tolerant quantum computer by 2029.
Möglich · Innerhalb von Jahren
Offene Fragen
- Will Trump's personal investments face further scrutiny?
- What are the specific implications of quantum-resistant encryption mandate?
- How will IBM's fault-tolerant quantum computer perform by 2029?
