An article summarized by Quartz:
The CHIPS and Science Act will distribute $2 billion in federal grants to nine quantum computing companies, with the U.S. government also taking minority equity stakes in each firm. According to reports, the largest award of $1 billion will go to IBM, while GlobalFoundries is expected to receive $375 million. Other recipients include D-Wave Quantum, Rigetti Computing, Infleqtion, Atom Computing, PsiQuantum, Quantinuum, and startup Diraq. The agreements still need to be finalized.
IBM confirmed it signed a letter of intent with the Commerce Department to create what it describes as America’s first purpose-built quantum chip foundry. The project will operate through a new entity called Anderon in Albany, New York, with IBM matching the government’s $1 billion grant using its own cash, intellectual property, assets, and staff. Commerce Secretary Howard Lutnick said the investments position the U.S. to lead the next era of innovation, while IBM CEO Arvind Krishna said the foundry could help accelerate growth across the American quantum industry.
The funding package also reflects a broader trend of the federal government taking ownership stakes in strategically important industries. Similar arrangements have already been made with companies tied to semiconductors and rare earth minerals, including Intel and MP Materials. Investors reacted positively to the news, with IBM shares jumping before markets opened, while smaller quantum firms like D-Wave, Rigetti, and Infleqtion also saw major gains as enthusiasm around the sector continued to grow.
