US invests $2B to accelerate quantum computing with IBM and others leading the charge
The US government has pledged over $2 billion to speed up quantum computing development. Nine companies, including IBM and GlobalFoundries, will share the funding to build new facilities and advance research. The move aims to boost domestic technology and create jobs in the sector. IBM will receive $1 billion to construct a quantum wafer manufacturing plant in Albany, New York. Named Anderon, the facility will focus on producing advanced quantum wafers at scale. The funding comes from CHIPS Act incentives, with IBM matching the amount through cash, assets, and expertise.
Other companies will also benefit from the investment. D-Wave and PsiQuantum will each get $100 million, while GlobalFoundries secures $375 million. Australian startup Diraq will receive $38 million to support its work. The government’s total contribution includes $1 billion in CHIPS incentives, paired with private investments.
IBM has set an ambitious goal: building a fault-tolerant quantum computer by 2029. Such a breakthrough could transform industries but also poses risks. Current encryption methods, including those used by Bitcoin and Ethereum, might become vulnerable to quantum attacks. The funding will expand US capabilities in quantum technology and strengthen supply chains. New facilities, like IBM’s Albany plant, are expected to drive innovation and employment. The investment also highlights the race to develop quantum-resistant security for digital systems.
