Commerce commits to funding incentives with 9 companies to spur quantum development
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ByAlexandra Kelley,
Staff Correspondent, Nextgov/FCW
May 21, 2026 03:34 PM ET
The letters of intent provide over $2 billion in funding from the CHIPS and Science Act to spur research and development in fault-tolerant quantum computing.
The Commerce Department signed letters of intent with nine quantum computing and quantum foundry companies to provide funding from the CHIPS and Science Act to support innovation in quantum computing.
Announced on Thursday, $2.013 billion in CHIPS funding will go to IBM, GlobalFoundries, Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum and Rigetti to spur different components of the burgeoning quantum computing ecosystem.
IBM and GlobalFoundries will receive $1 billion and $375 million, respectively, to build quantum tech-specific foundries. IBM will focus on manufacturing quantum-grade superconducting wafers, while GlobalFoundries will be tasked with scaling components of leading quantum computing architectures and modalities, such as superconducting...
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