U.S. Commerce Department invests $2 billion in IBM and GlobalFoundries to accelerate quantum chip development

The U.S. Commerce Department is awarding $2.013 billion in grants to nine tech companies, including IBM and GlobalFoundries, to expand quantum computing manufacturing.

IBM will receive $1 billion for a new quantum chip manufacturing business, while GlobalFoundries will get $375 million.

The funding will support chip and component production across superconducting, neutral-atom, photonic and trapped-ion quantum architectures.

The government will also take equity stakes in some of the companies, signaling a broader push to build a domestic quantum supply chain.