Nine quantum computing companies will split $2 billion in grants from the U.S. government, with the government taking varying equity stakes in each company. IBM will receive half the award to support Anderon, a new Albany, New York-based standalone company, and IBM will add $1 billion in matching cash. Anderon will operate as a 300-millimeter quantum wafer foundry intended to strengthen U.S. leadership in a growing quantum industry and support economic growth and national security. GlobalFoundries will receive $375 million, D-Wave, Infleqtion, and Rigetti will receive $100 million each, and Diraq will receive $38 million. Funding is contingent on meeting milestones, and publicly traded recipients rose in premarket trading.
"IBM will receive half the award, putting it toward a new IBM company called Anderon. IBM will match the grant with another $1 billion in cash for the Albany, New York-based standalone company."
""Anderon will operate as a state-of-the-art 300-millimeter quantum wafer foundry," IBM stated in an announcement. "It will help the nation solidify its leadership at the center of a thriving new quantum industry that is estimated to generate up to $850 billion in economic value by 2040 and spur American economic growth while also bolstering national security.""
"Alongside IBM, GlobalFoundries is set to receive $375 million from the grant, while companies such as D-Wave Quantum, Inc., Infleqtion Inc., and Rigetti Computing Inc. should get $100 million each. Diraq, a private startup, is expected to receive $38 million."
"The final deals are still being confirmed and multiple announcements state the funds are contingent on meeting certain milestones. Shares of publicly traded companies involved were up in Thursday's premarket."
#quantum-computing #us-government-grants #equity-stakes #semiconductor-manufacturing #national-security
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