U.S. Invests $2 Billion and Takes Stake in Quantum Firms
The New York Times • • business
Key Points:
- The Trump administration announced preliminary agreements to invest $2 billion in nine quantum computing companies, acquiring minority equity stakes to promote innovation and provide taxpayer returns.
- The funding, allocated from the 2022 CHIPS and Science Act, will primarily support GlobalFoundries ($375 million) and IBM ($1 billion) to develop quantum computer manufacturing foundries, with IBM partnering to create a new company, Anderon, in Albany, N.Y.
- Seven other companies, including Atom Computing, D-Wave, and PsiQuantum, will receive investments ranging from $38 million to $100 million to tackle technical challenges and develop quantum computing components and systems.
- Commerce Secretary Howard Lutnick emphasized that these investments will create thousands of high-paying jobs and advance U.S. quantum computing capabilities, positioning the administration as a leader in American innovation.
- This strategy marks a shift toward acquiring equity stakes in private firms, expanding government ownership to over 20 companies, including Intel and U.S. Steel, aiming to enhance taxpayer benefits beyond traditional grants and loans.