Overview
- The Commerce Department rolled out letters of intent for about $2 billion in CHIPS Act–related incentives and minority equity stakes to nine quantum firms, with announcements published on Monday.
- The largest commitment is a $1 billion government LOI to IBM’s new standalone venture Anderon that IBM will match with about $1 billion plus intellectual property to build a dedicated quantum foundry in Albany, New York.
- GlobalFoundries signed an LOI for roughly $375 million in incentives with the Commerce Department expected to take about a 1% noncontrolling equity stake.
- Seven other companies, including Rigetti, D‑Wave and Infleqtion, are named as recipients while notable firms such as IonQ were not included in the announced list.
- The LOIs are not final contracts so legal terms, stake sizes, funding timetables and construction schedules remain under negotiation and the program is positioned as part of the administration’s wider strategy of minority investments to shore up critical domestic supply chains.