U.S. Government Invests $2 Billion in 9 Quantum Computing Companies
The U.S. Department of Commerce has committed approximately $2.01 billion from the CHIPS and Science Act to nine quantum computing companies, taking a minority equity stake in each. IBM is set to receive $1 billion for its new subsidiary Anderon, which will build a quantum chip foundry in New York. While this signals strong government support for quantum technology development, it may not significantly impact IBM's near-term financial performance.
Topics: CHIPS and Science Act federal funding IBM quantum computing