Lofgren Challenges $2 Billion US Quantum Investments as CHIPS Funds Face Legality Questions
Updated
Updated · Ars Technica · May 22
Lofgren Challenges $2 Billion US Quantum Investments as CHIPS Funds Face Legality Questions
1 articles · Updated · Ars Technica · May 22
$2 billion in newly announced US quantum-computing investments are being challenged by Representative Zoe Lofgren, who says the deals illegally use CHIPS and Science Act money for purposes Congress did not authorize.
Lofgren argues the funds were earmarked for microelectronics R&D and public-private semiconductor research partnerships, while the government instead offered about $100 million stakes to multiple startups in exchange for equity.
$1 billion of the package would go to Anderon, a new quantum-chip foundry backed by $1 billion from IBM and set to inherit IBM personnel and intellectual property while serving IBM and other customers.
Lofgren also questioned whether IBM received preferential treatment, noting that former IBM executive Dario Gil now serves as the Energy Department's under secretary for science and was involved in negotiations.
She did not dispute the value of investing in quantum technology, but said Congress would need to explicitly appropriate money for that purpose rather than repurpose CHIPS funds.
Is using semiconductor funds for quantum computing a legal loophole or a visionary strategy for future tech leadership?
With the government now taking equity in tech startups, what does this new industrial policy mean for private investment?
As billions pour into quantum foundries, how soon will this technology move from research labs to our daily lives?