Qualcomm Falls 9.67% While IBM Surges Over 11% on CHIPS Act Funding

According to BlockBeats, on June 1, Qualcomm shares fell 9.67% in premarket trading, while IBM surged over 11% amid renewed investor interest. The momentum follows IBM's announcement on May 21 that it received a $1 billion CHIPS Act grant from the U.S. Department of Commerce for quantum chip manufacturing.

Financial disclosures filed with the U.S. Office of Government Ethics show that Trump's trust purchased IBM shares on March 21, with the transaction valued between $15,001 and $50,000, according to Form 278-T filings for the first quarter of 2026.