IBM Subsidiary Anderon Secures $1 Billion CHIPS Act Funding for Quantum Foundry
Anderon, a subsidiary of IBM (ticker: IBM), has secured a $1 billion research and development award from the U.S. Department of Commerce under the 2022 CHIPS and Science Act to advance quantum wafer manufacturing at its facility in Albany, New York. The funding will be matched by an equal investment from IBM itself. Anderon operates a state-of-the-art foundry producing wafers for superconducting qubit arrays and other critical components of the quantum computing ecosystem. This award is part of a larger $2 billion initiative supporting nine companies in the U.S. quantum industry, including GlobalFoundries ($375 million) and D-Wave Quantum, Rigetti Computing, and Infleqtion (each receiving $100 million). In exchange for funding, each recipient will provide the federal government with minority ownership stakes. The deal finalizes a letter of intent announced in May 2026. Despite this major development, IBM's stock fell by nearly 3.3% on Wednesday and has declined almost 19% year-to-date.
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Topics: CHIPS Act government funding quantum computing R&D investment