The US Department of Commerce has allocated $2 billion to American companies engaged in quantum computing. The US administration will acquire minority stakes in these projects, reports WSJ.
Half of the funds will go to IBM “to aid in the creation of supercomputers capable of solving some of the world’s most pressing problems.”
The company will receive $1 billion through the CHIPS Act to establish Anderon—a separate enterprise for launching the first specialized quantum foundry in the US, located in Albany.
IBM has also committed to invest an additional $1 billion of its own funds.
Other recipients of government funds include:
- GlobalFoundries — $375 million;
- Rigetti — $100 million;
- D-Wave — $100 million;
- Infleqtion — $100 million;
- PsiQuantum — $100 million.
- Diraq — $38 million.
The program will cover a total of nine companies.
Rigetti separately confirmed signing a letter of intent with the US Department of Commerce for up to $100 million. The company stated that the funds will be directed towards research and development related to scaling superconducting quantum computers.
The announcement also mentions that the department expects to receive a stake in the company proportional to the funding amount.
PsiQuantum also announced a letter of intent for $100 million. It stated that, along with its own funding, the funds will be used to develop photonic components, packaging, and other technologies for scalable quantum systems and the American semiconductor industry.
The program is part of Washington’s broader strategy to support critical technologies and local supply chains. The US authorities are also preparing a separate directive to support the quantum industry.
The government views this direction as key in technological competition with China.
Sources from WSJ added that the scheme involving government participation is expected to benefit taxpayers if the companies’ valuations increase.
Back in May, Keeper Security CEO Darren Guccione stated that AI and quantum technologies will threaten existing security systems.