Trump Administration Awards $2 Billion in Quantum Grants, Giving IBM $1 Billion for New York Foundry
Updated
Updated · marketwise.com · Jun 9
Trump Administration Awards $2 Billion in Quantum Grants, Giving IBM $1 Billion for New York Foundry
3 articles · Updated · marketwise.com · Jun 9
Summary
$2 billion in CHIPS Act grants will go to nine quantum companies, with IBM receiving $1 billion to launch Anderon, a dedicated quantum chip foundry in Albany, New York.
The funding is meant to speed quantum R&D and build a U.S.-based supply chain for qubit wafers and other components in a field still constrained by error rates, cryogenic requirements and fragile hardware.
GlobalFoundries will get $375 million, while D-Wave, Rigetti, PsiQuantum, Quantinuum, Atom Computing and Infleqtion each receive $100 million; startup Diraq gets $38 million.
In exchange, the U.S. will take minority equity stakes, a structure the Commerce Department says can keep strategic quantum assets under U.S. influence while giving taxpayers potential upside.
IBM says it will match the grant with another $1 billion and argues quantum advantage could arrive far sooner than the 15-to-30-year timeline some industry executives had projected.