US Department of Commerce allocates $2 bn in CHIPS Act funding to quantum computing firms

The U.S. Department of Commerce announced a $2.013 billion package of grants and minority equity stakes for nine quantum‑computing companies under the CHIPS Act. The largest award, about $1 billion, goes to IBM for a new pure‑play quantum chip foundry called Anderon, which IBM will match with its own $1 billion. GlobalFoundries will receive $375 million to launch a quantum wafer manufacturing line, and seven other firms – Atom Computing, Infleqtion, PsiQuantum, Quantinuum, D‑Wave, Rigetti Computing and Diraq – will split roughly $625 million, with each of the first six getting about $100 million and Diraq receiving $38 million. The funding is framed as a strategic move to build a domestic quantum supply chain, protect public‑key cryptography used in Bitcoin and national‑security systems, and keep the United States at the forefront of quantum hardware development. Shares of IBM and GlobalFoundries rose more than 12 % on the news, underscoring market expectations for the program’s impact.