Nine quantum computing companies are set to share $2 billion in government grants — with the U.S. taking equity stakes in each firm as part of the arrangements — according to the Wall Street Journal, which cited the Commerce Department.
The funding comes from the 2022 Chips and Science Act
Of the total award, $1 billion goes to IBM, making it the top beneficiary of the package, according to the Journal. GlobalFoundries, the chipmaker, is in line for $375 million. D-Wave Quantum, Rigetti Computing, and Infleqtion are each expected to land $100 million, with the smallest disclosed allocation — $38 million — going to startup Diraq.
The other firms expected to receive funding are Atom Computing, PsiQuantum, and Quantinuum. The deals still need to be formally completed. IBM confirmed a letter of intent with the U.S.