The U.S. government is making one of its biggest quantum computing bets yet, with roughly $2 billion in planned CHIPS Act-linked funding for IBM and eight other quantum technology companies, while taking equity stakes as part of the deals.
TL;DR
- The U.S. Commerce Department is backing nine quantum computing companies with about $2 billion in planned funding.
- IBM is expected to receive the largest share, around $1 billion, to support Anderon, a new standalone quantum chip foundry.
- GlobalFoundries is expected to receive $375 million, while D-Wave, Rigetti, Infleqtion, Quantinuum, PsiQuantum and Atom Computing are expected to receive around $100 million each.
- Diraq is expected to receive $38 million, and the U.S. government is also set to receive equity stakes in the participating companies.
The U.S. Department of Commerce has moved to deepen its role in the country’s quantum computing industry, backing nine companies with about $2 billion in funding tied to the CHIPS and Science Act.
The move targets a strategic technology field that could eventually transform materials science, biopharmaceutical discovery, national defense, financial modeling, energy systems, cryptography and advanced computing. It also reflects Washington’s growing push to keep critical technology development and manufacturing within the U.S., especially as competition with China intensifies.
IBM is the biggest name in the package and is expected to receive around $1 billion. The company confirmed that it signed a Letter of Intent with the U.S. Department of Commerce to build an American quantum chip foundry through Anderon, a new standalone IBM company headquartered in Albany, New York.
IBM said Anderon will be America’s first pure-play quantum foundry and will operate as a 300-millimeter quantum wafer foundry.
IBM will also contribute $1 billion in cash to Anderon, along with intellectual property, assets and a skilled workforce. The company said the foundry will initially support superconducting qubit and supporting electronics wafers, with plans to expand into other quantum technologies later.
“With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation,” said Howard Lutnick, U.S. Secretary of Commerce. “These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.”
Arvind Krishna, Chairman and CEO of IBM, said IBM’s work in silicon wafer fabrication has been central to its quantum computing progress.
“IBM has pioneered quantum computing for decades. Our work in silicon wafer fabrication has been a key to IBM’s success and will be critical to enable a broader quantum technology landscape that will reshape global innovation and economic competitiveness,” said Krishna. “With the support of the U.S. Department of Commerce, Anderon will be well-positioned to fuel America’s fast-growing quantum technology industry.”
The rest of the funding will be spread across quantum and semiconductor players. Axios reported that GlobalFoundries is expected to receive $375 million, while D-Wave Quantum, Rigetti Computing and Infleqtion are each expected to receive $100 million.
Quantinuum, PsiQuantum and Atom Computing are also expected to receive $100 million each, while Diraq is expected to receive $38 million.
D-Wave separately confirmed that it signed a Letter of Intent for $100 million in proposed CHIPS Act funding. The company said the money would support its superconducting annealing and gate-model quantum computing technologies.
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D-Wave also said that, after final award documents are executed, it would issue $100 million in common stock to the U.S. Department of Commerce.
Quantinuum also confirmed a Letter of Intent with the Commerce Department’s CHIPS Research and Development Office, saying the funding would support development of large-scale, fault-tolerant trapped-ion quantum computers and partnerships with U.S. semiconductor and photonics suppliers.
The investments are not final grants yet. IBM said the launch of Anderon remains subject to negotiation and execution of definitive documents with the Commerce Department.
However, the announcements show that the U.S. government is taking a more direct financial role in quantum computing, including ownership stakes, as it tries to accelerate domestic quantum infrastructure before the technology reaches broad commercial maturity.
IBM said quantum computing could help solve complex problems beyond the reach of today’s classical supercomputers. However, practical large-scale quantum computing still faces major engineering challenges, including error rates, device stability, cryogenic systems, optical complexity and interconnects.
