The Department of Commerce announced a $2.013 billion package of federal incentives aimed at boosting U.S. quantum computing and manufacturing under the CHIPS and Science Act.
The funding is split across nine agreements, supporting two major quantum manufacturing sites and seven companies working on different types of quantum computers. Officials say the goal is to speed up development of powerful next-generation computers that could eventually solve problems far beyond the reach of today’s systems, including in national defense, medicine, finance, and energy.
A large share of the money is going to building out domestic production capacity. GlobalFoundries is set to receive $375 million to help build a U.S.-based quantum manufacturing facility. IBM will receive $1 billion to expand its work producing specialized materials needed for quantum computers.
The rest of the funding is being divided among seven quantum computing companies working on different technical approaches. Those include Atom Computing, Diraq, D-Wave Quantum Inc., Infleqtion, PsiQuantum, Quantinuum, and Rigetti Computing.
Each company is focused on a different type of quantum technology, but all are trying to solve the same basic challenge: making quantum computers more stable, scalable, and useful outside of labs. The Commerce Department also said the government will take small equity stakes in the companies receiving funds as part of the agreements.
Read the Department of Commerce Press Release
