US bets $2B on quantum — IBM gets half, government takes equity
TL;DR
US Commerce Dept commits $2.01B to 9 quantum computing companies via CHIPS Act — IBM gets ~$1B alone. Government takes minority non-controlling equity in return.
US Commerce Department on May 21 announced under the CHIPS and Science Act, signed letters of intent with 9 quantum computing companies totaling $2.013B in federal funding — covering 2 quantum foundries and 7 quantum companies.
Who got what. IBM gets ~$1B, GlobalFoundries ~$375M, D-Wave, Rigetti, Quantinuum, Infleqtion ~$100M each. IBM will use the funding to build a quantum wafer fab at its existing Albany, NY semiconductor research center, plus self-fund another $1B to spin out a new company, Anderon, focused on quantum processor production.
The government isn't giving freely. In exchange, the Commerce Department will take minority non-controlling equity in each company — letting taxpayers share potential returns.
Market reaction. Quantum stocks rallied on the news: Arqit +25%, IonQ +12%, Quantum Computing +19%, IBM opened ~4% higher.
Why now. IBM estimates quantum will generate up to $850B in economic value by 2040. McKinsey predicts the auto, chemicals, finance, and life sciences sectors alone will gain up to $1.3T from quantum by 2035. Direct underlying driver: countering China's quantum catch-up.
via NIST / CNBC
Who got what. IBM gets ~$1B, GlobalFoundries ~$375M, D-Wave, Rigetti, Quantinuum, Infleqtion ~$100M each. IBM will use the funding to build a quantum wafer fab at its existing Albany, NY semiconductor research center, plus self-fund another $1B to spin out a new company, Anderon, focused on quantum processor production.
The government isn't giving freely. In exchange, the Commerce Department will take minority non-controlling equity in each company — letting taxpayers share potential returns.
Market reaction. Quantum stocks rallied on the news: Arqit +25%, IonQ +12%, Quantum Computing +19%, IBM opened ~4% higher.
Why now. IBM estimates quantum will generate up to $850B in economic value by 2040. McKinsey predicts the auto, chemicals, finance, and life sciences sectors alone will gain up to $1.3T from quantum by 2035. Direct underlying driver: countering China's quantum catch-up.
via NIST / CNBC
