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IBM will also invest $1 billion into a new company, called Anderon, which will produce the processors.
The US is awarding IBM $1 billion to build a quantum chip foundry as part of a $2 billion package.
KEY POINTS
- IBM will invest $1 billion to create a new company, Anderon, for quantum processor production.
- The US government will take minority, noncontrolling equity stakes in award recipient companies.
- GlobalFoundries will receive $375 million, while several other quantum firms will get up to $100 million each.
- $7.4 billion of prior Chips Act nonprofit funding was redirected to investments expected to yield US returns.
COMPANIES
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