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Quantum Funding Allocation
Planned funding for key quantum companies (in millions USD)
Primary Sources
Department of Commerce Announces Letters of Intent With 9 Companies for ...
WASHINGTON, D.C. – The Department of Commerce today announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act.These funds will support a portfolio of quantum companies, including two domestic quantum foundry companies and 7 quantum computing companies to accelerate solving the most critical technology challenges in the race to develop utility scale, fault-tolerant quantum computers.The Department of Commerce’s quantum incentives are designed to strengthen America’s position in this critical frontier technology. Quantum computing has significant implications for national defense, advanced materials and biopharmaceutical discovery, financial modeling, and energy systems. A strong domestic quantum ecosystem is essential for U.S. national security, technological resilience and long-term strategic leadership.These letters of intent demonstrate the Trump Administration's commitment to strengthening American leadership in emerging technologies by investing directly in advanced manufacturing, research, and microelectronics innovation.“With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation,” said Secretary of Commerce Howard Lutnick. “These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.”Foundry incentives to accelerate domestic quantum manufacturing infrastructureThe Department of Commerce is proposing to provide incentives for two quantum foundries (GlobalFoundries and IBM) to help establish and accelerate foundational domestic manufacturing capacity for the quantum sector.GlobalFoundries will receive $375 million in planned funding to establish a secure, domestic quantum foundry for leading architectures and multiple modalities (superconducting, trapped ion, photonic, topological, and silicon spin) used in large-scale quantum computers.IBM will receive $1 billion in planned funding to establish a new quantum foundry subsidiary for quantum-grade superconducting wafers by building on its U.S. leadership in superconducting quantum wafer fabrication technology.Quantum portfolio spans multiple modalities and addresses discrete technology challengesThe structure of the Department of Commerce’s proposed incentives is intended to provide capital toward an initial portfolio of ...
$2 Billion to Fund 9 Companies, Accelerate Quantum Computing
The Department of Commerce will allocate 2 billion in federal incentives, authorized by the CHIPS and Science Act, to nine companies expected to advance the United States’ position in quantum computing. Two of those companies will focus specifically on domestic quantum hardware manufacturing. This investment supports building a complete quantum ecosystem vital for national security, advanced materials discovery, and financial modeling. These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities. The funds, intended to strengthen America’s technological resilience, will support companies like GlobalFoundries and IBM as they establish foundational domestic manufacturing capacity for diverse quantum architectures, with 625 million remaining for other companies in the portfolio. 2 Billion CHIPS Act Incentives for Quantum Computing Companies These funds, distributed through letters of intent, target both the development of quantum computers and the crucial infrastructure required for their manufacture. GlobalFoundries and IBM are designated as domestic quantum foundries, receiving a combined 1.375 billion to establish and accelerate foundational manufacturing capacity for a variety of quantum architectures. GlobalFoundries will receive 375 million to create a secure domestic foundry capable of producing components for superconducting, trapped ion, photonic, topological, and silicon spin-based quantum computers. IBM’s planned 1 billion investment will establish a new subsidiary focused on quantum-grade superconducting wafers, leveraging the company’s existing U.S. leadership in this fabrication technology. The remaining 625 million will be distributed among seven quantum computing companies, each tackling distinct technological hurdles across multiple quantum modalities, including neutral atom, silicon-spin, superconducting, photonic, and trapped ion. Bill Frauenhofer, Executive Director of Semiconductor Investment and Innovation, explained that the “CHIPS R&D Office is taking a portfolio approach to strengthen and accelerate U.S. leadership across multiple quantum modalities at once, while focusing each award on discrete technological problems of genuine consequence.” This strategic allocation reflects a deliberate effort to address critical engineering challenges, including device reproducibility, error rates, and cryogenic systems integration,...
Commerce announces $2 billion in quantum computing incentives for nine ...
The Department of Commerce signed letters of intent to distribute roughly $2 billion in federal funds to nine companies in an effort to accelerate their work related to quantum computing. The deals will also give the department a non-controlling stake in each company. The financial incentives come as part of the CHIPS and Science Act, a 2022 law focused on U.S. semiconductor production, and directly invest in manufacturing, research and innovation in microelectronics, per a Thursday release. The equity is a condition of the agreement meant to “enhance the return for the U.S. taxpayer.” In a statement included in the announcement, Secretary of Commerce Howard Lutnick said the investments would “build on our domestic industry” and create “thousands of high-paying American jobs.” Specifically, the awards will go to two domestic “quantum foundry” companies — GlobalFoundries and IBM — and seven quantum computing companies. The other companies were Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum, and Rigetti. The most substantial funding is slated for the two foundry companies, with $375 million for Global Foundries and $1 billion for IBM. The other companies received between $38 and $100 million each. Those new investments will support major business expansions for the awardees. In its own release Thursday, IBM announced the CHIPS incentive would support research-and-development efforts of a new company called Anderon. That standalone IBM company “will operate as a state-of-the-art 300-millimeter quantum wafer foundry” and help the U.S. “solidify” itself as a leader in the quantum industry, per the release. According to IBM, the investment is one of the most significant the U.S. government has made into quantum research and development. “With the support of the U.S. Department of Commerce, Anderon will be well-positioned to fuel America’s fast-growing quantum technology industry,” Arvind Krishna, chairman and CEO of IBM, said in a statement in the release. Similarly, GlobalFoundries launched a new quantum business Thursday called Quantum Technology Solutions. That business will help scale manufacturing capabilities for utility-scale quantum computing, per the release. Per GlobalFoundries’ announcement, Commerce will “receive a strategic equity investment in GF, representing approximately one percent ownership as of today’s date, enabling the American public to share in GF’s growth.” GlobalFoundries CEO Tim Breen celebrated agreement...
U.S. Department of Commerce Announces Letters of Intent With 9 ...
Insider Brief The U.S. Department of Commerce signed nine letters of intent totaling $2.013 billion in proposed CHIPS Act incentives to support quantum foundries and quantum computing companies developing utility-scale, fault-tolerant quantum systems. IBM and GlobalFoundries are set to receive planned funding to expand domestic quantum manufacturing infrastructure, including superconducting wafer fabrication and secure multi-modality quantum foundry capabilities. The proposed incentives span multiple quantum computing approaches, with companies including Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum, and Rigetti Computing receiving planned support for challenges such as error correction, cryogenic integration, photonic packaging, and large-scale qubit control. PRESS RELEASE — The Department of Commerce today announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act. These funds will support a portfolio of quantum companies, including two domestic quantum foundry companies and 7 quantum computing companies to accelerate solving the most critical technology challenges in the race to develop utility scale, fault-tolerant quantum computers. The Department of Commerce’s quantum incentives are designed to strengthen America’s position in this critical frontier technology. Quantum computing has significant implications for national defense, advanced materials and biopharmaceutical discovery, financial modeling, and energy systems. A strong domestic quantum ecosystem is essential for U.S. national security, technological resilience and long-term strategic leadership. These letters of intent demonstrate the Trump Administration’s commitment to strengthening American leadership in emerging technologies by investing directly in advanced manufacturing, research, and microelectronics innovation. “With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation,” said Secretary of Commerce Howard Lutnick. “These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.” Foundry Incentives to Accelerate Domestic Quantum Manufacturing Infrastructure The Department of Commerce is proposing to provide incentives for two quantum foundries (GlobalFoundries and IBM) to help...
