A bill to amend the Export-Import Bank Act of 1945 to include quantum information science and technology in the areas covered by the Program on China and Transformational Exports.
Summary
S.4823, introduced by Sen. Kim, expands the Export-Import Bank's China and Transformational Exports program to include quantum information science. This early-stage bill signals legislative support for U.S. quantum exporters. No funding is appropriated; it merely authorizes the Ex-Im Bank to finance quantum tech exports. Near-term revenue impact is negligible, but the bill sets a foundation for future export-driven growth for pure-play quantum companies like IONQ, RGTI, QBTS, and ARQQ.
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Key Takeaways
- 1.S.4823 is an early-stage authorization bill that expands Ex-Im Bank's mandate to quantum tech, with no direct funding.
- 2.Pure-play quantum companies (IONQ, RGTI, QBTS, ARQQ) are the primary beneficiaries, but near-term revenue impact is zero.
- 3.Diversified tech (IBM, GOOGL, MSFT) is minimally affected; the bill's passage probability is low given its early status and junior sponsor.
Market Implications
The bill has minimal near-term market impact given its early stage and lack of funding. Pure-play quantum stocks (IONQ, RGTI, QBTS, ARQQ) may see a slight sentiment boost as investors interpret the bill as a signal of U.S. government support for quantum technology. However, without a House companion or committee action, the bill is unlikely to reach a vote in 2026. For diversified tech stocks like IBM, GOOGL, and MSFT, the quantum provisions are too small relative to their massive revenue bases to move their stock prices. Institutional investors should monitor the bill's progress for potential long-term export revenue opportunities but should not overweight quantum positions based on this alone.
⚡ Government Convergence
This signal is one of the converging government actions below.
Over the last 90 days, 22 separate government actions have converged on Quantum Computing / PQC. What that means: federal dollars are already moving — agencies are soliciting bids and awarding contracts, not just talking, and legislation and executive action are building the policy and funding tailwind behind it. When independent channels move together like this — 13 patents, 6 bills, 2 executive actions and 1 procurement notices — it's the clearest early tell that Washington is committing to quantum computing / pqc, the kind of build-up that reshapes the sector well before it's obvious in the headlines.
Converging government actions
- BillQuantum LEAP Act of 2025 · 2025-05-13
- BillQuantum Readiness and Innovation Act of 2025 · 2025-12-02
- BillNational Quantum Initiative Reauthorization Act of 2026 · 2026-04-14
- BillNational Security Commission Quantum Computing Act of 2026 · 2026-06-15
- PatentPatent: Google LLC — Precision Ferrite-Based Electromagnetic Signal Circulators for Quantum Computing Systems · 2026-06-16
- Executive actionExecutive Order: Securing the Nation Against Advanced Cryptographic Attacks · 2026-06-22
- Executive actionExecutive Order: Ushering in the Next Frontier of Quantum Innovation · 2026-06-22
- PatentPatent: Infineon Technologies AG — JUST-IN-TIME POST-QUANTUM CRYPTOGRAPHY (PQC) KEY EXPANSION · 2026-06-23
- PatentPatent: Classiq Technologies LTD. — EFFICIENT SCHEDULING OF PAULI-TERMS FOR QUANTUM COMPUTING · 2026-06-23
- BillTo amend the Export-Import Bank Act of 1945 to include quantum information science and technology in the areas covered by the Program on China and Transformational Exports. · 2026-07-02
- BillQuantum-Enhanced Critical Minerals Mapping Act of 2026 · 2026-07-13
- PatentPatent: Quantinuum LLC — COHERENT DE-EXCITATION OF ATOMIC OBJECT CRYSTAL MOTIONAL MODES TO FACILITATE TRANSPORT IN A TRAPPED-ION QUANTUM COMPUTER · 2026-08-11
- PatentPatent: Bank of America Corporation — Image processing using photonic quantum computing · 2026-08-11
- PatentPatent: Universal Quantum Ltd — Methods and systems for implementing digital to analogue converters in quantum computers · 2026-08-11
Full Analysis
On June 18, 2026, Sen. Andy Kim (D-NJ) introduced S.4823, a bill to amend the Export-Import Bank Act of 1945 to explicitly include quantum information science and technology (QIST) in the Program on China and Transformational Exports. The bill was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs, where it awaits further action. This is the first step in a long legislative process that requires committee markup, full Senate vote, House passage, and presidential signature.
The bill does not authorize or appropriate any specific funding. Instead, it expands the scope of the existing Ex-Im Bank program, which already covers other transformational technologies. In practice, this means the Ex-Im Bank can now use its standard financing tools—loan guarantees, direct loans, and insurance—to support foreign purchases of U.S. quantum computing hardware, software, and services. The money trail here is indirect: any additional exports would be financed through Ex-Im's existing budget and credit authority, not new appropriations.
The structural winners are pure-play quantum companies that directly benefit from enhanced export competitiveness. IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Systems (QBTS), and Arqit Quantum (ARQQ) are the most leveraged to this bill. Their entire revenue streams depend on selling quantum technology to customers, including foreign governments and enterprises. By reducing the financial friction for international buyers, the Ex-Im program effectively lowers the price of U.S. quantum offerings relative to foreign alternatives (e.g., from China or Europe). Diversified technology giants like IBM (IBM), Alphabet (GOOGL), and Microsoft (MSFT) have quantum divisions, but these represent a tiny fraction of their overall revenue, making the impact negligible for those stocks.
No real market data on quantum stock performance was provided, so we rely on structural positioning. Currently, the quantum computing sector is pre-revenue for many players, with most revenue coming from government grants and pilot projects. The bill, if enacted, could accelerate commercial international sales two to three years out. However, given the early legislative stage and lack of companion legislation in the House, passage probability is low in the near term. The 119th Congress is currently in its second session; any bill not passed by the end of 2026 will need to be reintroduced in the 120th Congress.
Timeline: The bill must clear the Senate Banking Committee. No markup hearings have been scheduled. Sen. Kim is a junior senator from New Jersey with one cosponsor (likely the same party). This suggests limited momentum. Actual export assistance would only begin after enactment, which could take 12-18 months if it gains traction. For retail investors, this is a long-term thematic signal rather than a near-term trading catalyst.
Intelligence Surface
Cross-referenced against federal contracts, SEC insider filings & congressional trade disclosures
No confirming evidence found yet from contracts, insider trades, or congressional activity
What the bill does
Inclusion of quantum information science and technology in the Export-Import Bank's Program on China and Transformational Exports, enabling the bank to provide financing for international sales of U.S. quantum computing systems.
Who must act
Export-Import Bank of the United States (Ex-Im Bank)
What happens
Ex-Im Bank can now offer buyer financing, loan guarantees, and credit insurance for foreign purchases of U.S. quantum technology, reducing the cost and risk for international customers and potentially increasing export volumes.
Stock impact
IonQ's core business is building and selling quantum computers. Access to Ex-Im Bank financing lowers the total cost of ownership for foreign buyers, making IonQ's systems more competitive against non-U.S. alternatives (e.g., Chinese quantum systems). This could increase IonQ's international revenue, which is currently a small fraction of total sales.
What the bill does
Same as above: expansion of Ex-Im Bank's China program to cover quantum information science and technology.
Who must act
Export-Import Bank of the United States (Ex-Im Bank)
What happens
Ex-Im Bank can finance foreign purchases of U.S. quantum computing hardware and services, improving affordability for international customers.
Stock impact
Rigetti Computing develops quantum processors and cloud-based quantum computing services. With Ex-Im financing, Rigetti's cloud subscriptions and hardware sales to overseas entities (governments, research labs) become more attractive. The company's recent focus on building modular quantum systems could benefit from increased export demand.
Key Legislators
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
Executive Order: Ushering in the Next Frontier of Quantum Innovation
Executive Order: Securing the Nation Against Advanced Cryptographic Attacks
National Security Commission Quantum Computing Act of 2026
Quantum-Enhanced Critical Minerals Mapping Act of 2026
To amend the Export-Import Bank Act of 1945 to include quantum information science and technology in the areas covered by the Program on China and Transformational Exports.
To codify Executive Order 14412, entitled "Securing the Nation Against Advanced Cryptographic Attacks".
A bill to amend the Export Control Reform Act of 2018 to provide for the security of information and communications technology and services supply chains, and for other purposes.
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
Adjusting Imports of Unmanned Aircraft Systems and Unmanned Aircraft Systems Components into the United States
This proclamation imposes a 100% ad valorem tariff on imports of unmanned aircraft systems (UAS) over 25 kg, those with thermal imagers, docking stations, and certain components, and a 25% tariff on UAS under 25 kg and other components, citing national security under Section 232 of the Trade Expansion Act. It also authorizes the Department of Commerce to establish an onshoring program offering preferential tariff treatment for companies that build new U.S. manufacturing facilities for UAS and components.
Expanding Capabilities to Combat Transnational Cyber-Enabled Crime
This memorandum establishes a government program, managed by the National Coordination Center (NCC), that authorizes private companies to conduct cyber surveillance and operations against foreign cyber-enabled transnational criminal organizations under federal oversight. It directs the Department of Justice and Department of Homeland Security to co-execute the program, requiring vetted companies to enter contracts with the government and potentially post a $1 million bond, with implementation guidance to be developed within 60 days.
Adjusting Imports of Polysilicon and its Derivatives into the United States
This proclamation invokes Section 232 of the Trade Expansion Act to impose a minimum import price (MIP) program on polysilicon and its derivatives, a 15% ad valorem tariff on polysilicon derivatives, and directs the Secretary of Commerce to offer incentives for domestic production. It aims to protect and revive the U.S. polysilicon industry by restricting imports that threaten national security, particularly for semiconductor and solar supply chains.
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