IBM Secures $1 Billion Quantum Award, Shares Rally 12% Over Two Days
IBM•IBM received a $1 billion award from the U.S. government as part of a $2 billion quantum funding initiative, funding a stand-alone foundry called Anderon. The project will see IBM and the Commerce Department each invest $1 billion cash, driving a 12% rally over two sessions.
1. U.S. Government Award Bolsters Quantum Business
IBM has secured a $1 billion award from the U.S. government to support its quantum computing division, part of a broader $2 billion funding initiative across nine companies.
2. Anderon Foundry Joint Investment
The company will partner with the Commerce Department to co-found a stand-alone quantum foundry named Anderon, with each party contributing $1 billion in cash.
3. Stock Market Response
News of the award and foundry commitment triggered a 12% increase in IBM shares over two trading sessions, extending the stock's recent rally.
