The U.S. Department of Commerce is investing $2 billion in quantum computing, focusing on domestic companies to enhance technological competitiveness against China.
The U.S. Department of Commerce has committed $2 billion to support American firms in the quantum computing sector, with plans to take minority stakes in these initiatives, as reported by the Wall Street Journal.
A significant portion of this funding, $1 billion, will be allocated to IBM under the CHIPS Act, enabling the company to establish Anderon, the first specialized quantum factory in the U.S. located in Albany. IBM is also set to contribute an additional $1 billion of its own funds toward this effort.
Additional beneficiaries of the funding include:
- GlobalFoundries — $375 million;
- Rigetti — $100 million;
- D-Wave — $100 million;
- Infleqtion — $100 million;
- PsiQuantum — $100 million;
- Diraq — $38 million.
In total, the program will encompass nine companies. Rigetti has confirmed a letter of intent to receive up to $100 million, which will be invested in scaling superconducting quantum computers. Similarly, PsiQuantum has also signed a letter of intent for $100 million, focusing on the development of photonic components and technologies for scalable quantum systems.
This initiative is part of a larger strategy by the U.S. government to bolster critical technologies and enhance domestic supply chains, particularly in light of increasing competition with China. Officials anticipate that the investment will yield benefits for taxpayers as the value of these companies grows.
In a related context, Darren Guccione, CEO of Keeper Security, highlighted potential risks posed by AI and quantum technologies to existing security frameworks.
