IBM: $1 billion deal with the US government on quantum computing
The funding will be used to accelerate the initiatives of the subsidiary Anderon aimed at boosting the country’s quantum wafer production capacity
Anderon, an IBM Group company, has announced that it has been awarded a $1 billion grant from the US Department of Commerce; this is a research and development grant provided under the Chips and Science Act of 2022.
The funding will be used to accelerate Anderon’s initiatives aimed at boosting the country’s quantum wafer production capacity, the company said.
The agreement had been in the works for several months. In May, the US Department of Commerce announced grants totalling two billion dollars to nine companies operating in the field of quantum computing, including IBM, a frontrunner in the race to build computers that utilise quantum mechanics to solve problems at a significantly faster rate than traditional supercomputers.
Last week, Rigetti Computing, D-Wave Quantum and Quantinuum each signed agreements worth $100 million with the Department in exchange for the transfer of shares in their respective companies.
Anderon is also set to receive a further investment of one billion dollars from IBM.
