Xanadu gets up to $10 million from DARPA for quantum work
Its shares rose about 3% in early Monday trading.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Xanadu Quantum Technologies has been granted provisional approval for up to $10 million in additional funding from the Defense Advanced Research Projects Agency. The money is tied to the agency's Quantum Benchmarking Initiative and will support the company's quantum research and development roadmap. Its shares rose 3% in early trading on Monday after the announcement.
Why it matters
The funding advances Xanadu's quantum development roadmap under the initiative.
Coverage
- Xanadu Quantum stock rises on DARPA contract approval (Yahoo News)
- Xanadu Wins Up To $10 Million More From DARPA For Quantum R&D (quantumzeitgeist.com)
- Xanadu Secures Up to USD $10 Million in Additional DARPA Support to Accelerate Quantum R&D Roadmap (mycarrollcountynews.com)
More from Technology & AI
- Eight states sue OpenAI, alleging misleading AI safety claims
- OpenAI announces solution to Navier-Stokes math problem
- Datadog bets AI agents can handle testing of AI-written code
- Anthropic and OpenAI sketch wealth-sharing plans before IPOs
- Mamdani administration proposes AI customer service rules
- Florida engineers study how AI behaves in high-risk situations