U.S. to Award $2 Billion in Quantum Computing Grants to Nine Firms, Taking Equity Stakes in Each

The U.S. government announced plans Thursday to distribute $2 billion in grants to nine quantum computing companies, with the National Institute of Standards and Technology set to take a minority, non-controlling stake in each firm as part of the arrangement.

IBM is the largest single recipient, with the Commerce Department agreeing to award the company $1 billion. Chipmaker GlobalFoundries is in line for $375 million, while D-Wave Quantum, Rigetti Computing, PsiQuantum, and Infleqtion are each set to receive $100 million. Startup Diraq will receive $38 million under the terms of the letters of intent, which NIST said have been signed but not yet formally completed. Funding is expected to come from the 2022 Chips and Science Act.

The announcement sent quantum computing shares sharply higher on Thursday. IBM was trading approximately 7% higher, while D-Wave and Rigetti each surged 25%. Infleqtion climbed roughly 30%. Other quantum firms not included in the announcement also rose on the news, with Arqit gaining 30%, IonQ rising 12%, and Quantum Computing advancing 17%.

Shortly after the news circulated, IBM confirmed it would work with the federal government to develop what it described as America's first purpose-built quantum foundry. The company said the $1 billion government incentive will support the research and development efforts of a new subsidiary called Anderon, into which IBM said it would contribute a matching $1 billion investment.

"Headquartered in Albany, New York as a standalone company, Anderon will operate as a state-of-the-art 300-millimeter quantum wafer foundry," IBM said in a news release.

IBM said the initiative will "accelerate American quantum innovation and enable advanced quantum wafer production for a broad range of companies." The company added that the quantum industry is estimated to generate up to $850 billion in economic value by 2040.

The government's decision to take equity stakes alongside the grants marks a notable feature of the arrangement, reflecting an approach that goes beyond traditional grant structures. The stakes are characterized as minority and non-controlling, meaning the federal government would not hold operational authority over the companies involved.

The deals remain subject to formal completion. The Commerce Department did not immediately respond to a request for comment.

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