Department of Commerce Announces $2 Billion in Quantum Computing Incentives for Nine Companies

Why It Matters

The funding accelerates US leadership in a strategic technology, creates high-paying manufacturing and research jobs, and the government’s equity stakes are designed to preserve taxpayer upside from commercial gains. This move signals a push to localize critical quantum supply chains and reduce reliance on foreign technology.

Summary

The Department of Commerce signed letters of intent to award roughly $2 billion in federal incentives to nine companies to accelerate US quantum computing manufacturing and research under the CHIPS and Science Act. The deals grant the government a non-controlling equity stake in each firm and aim to boost domestic microelectronics and innovation. Two quantum foundries—IBM and GlobalFoundries—are slated to receive the largest shares, about $1 billion and $375 million respectively, while seven quantum computing firms including D-Wave, Rigetti, PsiQuantum, Quantinuum, Atom Computing and Inflection will receive between roughly $38 million and $100 million each. The investments are positioned to fund major business expansion and scaling of quantum capabilities in the US.

Original Description

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.

Learn more: https://fedscoop.com/commerce-2-billion-quantum-incentives-nine-companies/

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