US injects $2B into quantum computing with IBM leading the charge
The US government has pledged over $2 billion to speed up quantum computing development. Nine companies, including IBM and several startups, will share the funding to expand domestic technology production. Officials say the move will also generate thousands of well-paid jobs. IBM will receive $1 billion to construct a new facility named Anderon in Albany, New York. The plant will specialise in manufacturing advanced quantum wafers at scale. Half of the funding comes from CHIPS Act incentives, with IBM matching the remaining amount through cash, assets, and technical expertise.
Several other quantum firms will also benefit from the programme. D-Wave and PsiQuantum will each receive $100 million, while GlobalFoundries secures $375 million. Australian startup Diraq will get $38 million to support its research and development.
Commerce Secretary Howard Lutnick stated that these investments aim to boost domestic capabilities in quantum technology. The government will take equity stakes in the participating companies to ensure long-term oversight and financial returns. The funding will help establish a large-scale quantum wafer production hub in New York. Thousands of high-skilled jobs are expected to emerge as a result of the programme. The government’s equity involvement ensures continued monitoring of progress and returns on investment.
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