USA Rare Earth shares climb on $1.6 billion US funding proposal

Shares of rare earth magnet company USA Rare Earth USAR.O jump 20.7% to $29.90, their highest level since October 21

Co unveils a proposal for $1.6 billion in funding from the U.S. Department of Commerce

USAR said the letter of intent for the deal includes $277 million in proposed federal funding and $1.3 billion in a proposed senior secured loan under the CHIPS Act

The firm will issue 16.1 million shares and roughly 17.6 million warrants to the Commerce Department

USAR has more than doubled in value so far in 2026