IBM gets $1B for quantum subsidiary in Albany - Albany Business Review
- On Thursday, May 21, 2026, the U.S. Department of Commerce announced $2.013 billion in CHIPS Act funding for nine quantum companies, securing federal equity stakes in each recipient.
- The U.S. government's largest quantum-industry intervention aims to counter China by establishing domestic manufacturing capacity, mirroring the equity component the Trump administration secured in the Intel CHIPS award last year.
- IBM is the headline recipient with roughly $1 billion, which will support creation of Anderon, a new Albany, New York-based quantum foundry, with IBM committing an additional $1 billion of its own capital.
- GlobalFoundries is slated for about $375 million, while publicly traded companies D-Wave Quantum, Rigetti Computing, and Infleqtion are each expected to receive roughly $100 million, with Diraq slated for up to $38 million.
- Commerce Secretary Howard Lutnick said the investment will "lead the world into a new era of American innovation," as the initiative targets "utility-scale, fault-tolerant" quantum computers where commercial advantage materializes.
22 Articles
22 Articles
Why IBM Stock Was Rocking it This Week
Key PointsOne of these efforts will be supported financially by the federal government.The other includes a fresh expansion of its AI-ready cybersecurity line.10 stocks we like better than International Business Machines › This is shaping up to be an eventful week for International Business Machines (NYSE: IBM). The storied tech company was announced as the major focus of a significant federal government initiative to develop quantum computing, …
Why did this Mass. company say ‘no thanks’ to money from the Trump administration?
The U.S. Department of Commerce announced on Thursday that it will dole out $2 billion in grants to nine companies in the field of quantum computing, including IBM and several startup companies. Quantum is generally regarded as the next wave in computing, with its ability to simulate such complex systems as weather or human biology.
US Invests $2 Billion in IBM, Other Firms to Boost Quantum Computing
The U.S. Department of Commerce is awarding $2 billion to IBM and eight other American quantum computing companies in an effort to secure the nation’s lead in the race to build the world’s most powerful computers. IBM is set to receive half of that amount to launch a new subsidiary called Anderon, which the company described in a statement Thursday as “America’s first pure-play quantum foundry.” “This initiative represents one of the most signif…
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
