US Awards $2 Billion to 9 Quantum Firms, Giving IBM $1 Billion Under CHIPS Act
Updated
Updated · CNN · May 21
US Awards $2 Billion to 9 Quantum Firms, Giving IBM $1 Billion Under CHIPS Act
10 articles · Updated · CNN · May 21
$2 billion in Commerce Department funding will go to nine U.S. quantum-computing companies, with IBM receiving $1 billion to launch Anderon, which it calls America’s first pure-play quantum foundry.
IBM said it will match that with another $1 billion and use the effort to expand quantum-wafer manufacturing, while smaller recipients D-Wave Quantum and Rigetti Computing can receive up to $100 million each in exchange for equity.
Markets welcomed the awards: IBM shares rose nearly 4% at the open, while D-Wave and Rigetti jumped 14% and 12% as investors bet the funding could speed progress toward utility-scale systems.
The push reflects Washington’s effort to secure U.S. leadership in a field expected to unlock major gains in industries from finance to life sciences, even though technical hurdles and cybersecurity risks still cloud the timeline for a true breakthrough.
With the government now a major tech shareholder, what are the new rules for the global quantum computing race?
Beyond the stock rally, what are the hidden risks when government acts as a venture capitalist in strategic industries?
U.S. Quantum Computing Surge: $2 Billion in Grants, Equity Stakes, and the Race Against China
Overview
On May 21, 2026, the U.S. government announced a major initiative to boost quantum computing by awarding substantial grants to leading companies and startups. D-Wave Quantum, Rigetti Computing, and Infleqtion each received $100 million, while Diraq was awarded $38 million. This strategic funding aims to accelerate innovation and secure a competitive edge in quantum technology. The announcement immediately sparked strong reactions in financial markets, increasing investment interest and signaling robust confidence in the industry's future. The government's commitment is expected to further amplify positive sentiment and drive growth in the quantum computing sector.