The US Department of Commerce has announced its intentions to provide just over $2 billion in CHIPS and Science Act grants to nine quantum computing companies, according to The Wall Street Journal, in exchange for equity.
The biggest winner of the proposal is IBM, which will receive a $1 billion "incentive" to develop quantum computing chips. IBM has said that it will also be investing $1 billion of its own funds into quantum semiconductor foundry Anderon, in order to set up a specialized quantum chip manufacturing facility.
GlobalFoundries is set to receive $375 million in funding, with a 1% stake in the company received by the government in return, while Diraq, a quantum computing startup, is set to receive $38 million.
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