Overview
- The Commerce Department signed letters of intent to provide roughly $2.01 billion from the CHIPS and Science Act to nine quantum companies in a bid to boost U.S. chip and quantum supply chains.
- Under the program the government will take minority, non‑controlling equity stakes in recipients, though sizes of those stakes and exact contract terms are still being negotiated.
- IBM is slated to receive $1 billion to launch Anderon, a quantum chip foundry in Albany, New York, and has said it will match that amount; GlobalFoundries is slated for a $375 million foundry award.
- D‑Wave and Rigetti are each slated to receive about $100 million, and the announcement triggered sharp rallies in quantum stocks as investors repriced the sector.
- Officials and company filings frame the move as a long‑term industrial push that could accelerate manufacturing, procurement access and job growth, but the funds will not flow until final agreements, regulatory reviews and technical milestones are met.