Xanadu Quantum Technologies (XNDU) shares extended their weekly gains following comments from CEO Christian Weedbrook. Weedbrook suggested on LinkedIn that the company could receive nearly $400 million from Canadian federal and provincial governments.
This potential capital influx follows a major U.S. government investment in the broader quantum sector. The news triggered a stock rebound after a sharp price decline earlier in May.
Investors view the funding as a critical step in de-risking Xanadu’s goal to develop a quantum data center by 2030. While the funding remains unconfirmed, the prospect has bolstered market sentiment for the speculative stock.