Overview
- The Commerce Department signed letters of intent Thursday to allocate roughly $2 billion from the CHIPS and Science Act to nine quantum firms in return for minority, non‑controlling equity stakes.
- IBM was slated to receive $1 billion to form a standalone foundry called Anderon in Albany, New York, and will match the federal award with $1 billion in cash plus IP, assets and staff transfers.
- GlobalFoundries was designated to receive $375 million and confirmed the Commerce Department will hold about a one percent stake in the company.
- Smaller recipients include D‑Wave, Rigetti, Infleqtion, Atom Computing, PsiQuantum and Quantinuum at about $100 million each and startup Diraq at about $38 million, and no funds have been disbursed because the letters of intent still require final agreements.
- The package is intended to build U.S. supply chains and create jobs, it triggered sharp stock rallies, and officials say the moves reflect a broader strategy that balances investor signaling with the technical and commercial uncertainty that still surrounds large‑scale quantum systems.