US Awards $2bn to Quantum Firms, IBM Secures $1bn for Foundry
IBM•The US government will take equity stakes and provide $2bn in grants to nine quantum computing companies, with IBM receiving $1bn and forming a new standalone entity, Anderon, in Albany to build a 300mm quantum wafer foundry. IBM will match the grant with $1bn in cash, assets, staff, and IP.
1. Government Quantum Funding Package
Nine quantum computing firms will share $2bn in grants under the Chips and Science Act, with the US government taking minority equity stakes in each. The funding is designed to accelerate development of quantum hardware across multiple start-ups.
2. IBM's Anderon Foundry Initiative
IBM secured $1bn of the total award and signed a letter of intent to form Anderon, a standalone 300mm quantum wafer foundry based in Albany, New York. IBM will contribute $1bn in cash, intellectual property, assets, and staff to match the government grant.
3. Equity Stake and Market Reaction
Each recipient will grant the federal government a minority ownership position, though specific terms remain under negotiation. IBM shares rose about 6% before trading opened, reflecting investor optimism over its leading role in quantum manufacturing.
