Overview
- The Commerce Department, which announced the plan on Thursday, May 21, 2026, said it will allocate $2 billion from the CHIPS Research and Development Office to nine quantum companies in exchange for minority equity stakes.
- IBM confirmed a letter of intent and said it will match a reported $1 billion award to create Anderon, a standalone quantum chip foundry in Albany, while D-Wave confirmed its roughly $100 million award will be structured as equity.
- Published reports list allocations such as $1 billion for IBM, $375 million for GlobalFoundries, about $100 million each for D-Wave, Rigetti, Infleqtion, Atom Computing, PsiQuantum and Quantinuum, and $38 million for Diraq, though most deals remain letters of intent or subject to final terms.
- Public quantum and chip stocks surged in premarket trading as investors priced in federal backing, but multiple outlets and company statements caution that many arrangements are still negotiations and not yet finalized.
- The shift from grants to ownership is meant to accelerate domestic manufacturing, protect supply chains, and give the government leverage over a technology that could affect encryption and national-security planning, with taxpayer returns and long-term outcomes to be resolved over years.