US to award $2bn to quantum computing companies including IBM, D-Wave

(Sharecast News) - The US Department of Commerce said on Thursday that it will award $2bn in grants to nine quantum computing companies including IBM and D-Wave Quantum, in exchange for minority stakes.

IBM said in a statement that it will receive $1bn, while D-Wave, Rigetti Computing and Infleqtion will receive around $100m each, and GlobalFoundries will get $375m. Funding for the deals comes from the CHIPS and Science Act 2022.

US Secretary of Commerce Howard Lutnick said: "With today's CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation.

"These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities."

IBM said it will work with the US DoC to build an American quantum chip foundry, "securing the nation's global quantum leadership and fuelling the country's growing quantum ecosystem". The new company, named Anderon, will be the first pure-play quantum foundry in the US.

"This initiative represents one of the most significant commitments by the US Government to date in quantum R&D to position the United States to manufacture most of the world's quantum wafers," IBM said.

D-Wave Quantum said the funding will advance its superconducting annealing and gate-model technology development. Meanwhile, Infleqtion said the investment will accelerate the development of neutral-atom quantum systems as the US expands domestic computing capabilities "critical to economic competitiveness and national security".

At 1437 BST, IBM shares were up 4.2% at $234.40, while D-Wave was 16% higher at $23.05 and Infleqtion was a whopping 33% firmer at $14.88.