Overview
- The Commerce Department finalized a $1 billion CHIPS research-and-development grant to IBM on Sept. 16, 2026, and IBM committed a matching $1 billion to form Anderon as a 300mm wafer quantum foundry in upstate New York.
- Mukesh Kare, currently IBM’s semiconductor division general manager, has been named CEO of Anderon and the facility will operate as an IBM subsidiary that can also sell services to outside customers.
- Companies such as D-Wave have already expressed interest in using the foundry, signaling that Anderon is meant to serve multiple hardware vendors rather than only IBM’s internal roadmap.
- The Anderon award is part of a roughly $2 billion federal quantum package that included separate Commerce grants to Rigetti, D-Wave, Quantinuum and a $375 million pact with GlobalFoundries to build out domestic capacity.
- IBM’s announcement came as the company reported quarterly EPS in line with estimates and slightly below‑forecast revenue, and markets showed a muted reaction while technical goals such as a fault‑tolerant machine by 2028 remain uncertain.