IBM slips in choppy trade after chip unit finalizes $1 billion award from Trump admin
IBM•IBM shares reverse gains after funding agreement
- Shares of U.S. tech firm IBM
IBM.Nfall 1.8% premarket, reversing initial gains - Stock had risen as much as 2.3% after IBM said Anderon, its chip unit, has signed a funding agreement with the U.S. government for the $1 billion it was awarded in May to accelerate R&D for quantum wafer manufacturing
- In May, the U.S. had launched a $2 billion investment program to support quantum computing companies, including Anderon, under the CHIPS Act
- As of last close, IBM stock down 16.2% YTD
