Four firms secure proposed funding under the CHIPS Act to expand U.S. quantum chip manufacturing and supply chain capabilities.
IBM, D-Wave Quantum, Rigetti Computing, and GlobalFoundries confirmed proposed funding awards from the U.S. Department of Commerce under the CHIPS and Science Act. The funding aims to bolster domestic quantum hardware production and address supply chain gaps in quantum technology.
The awards will support investments in quantum chip foundries, superconducting qubit development, and scaling solutions. Some agreements include equity stakes for the Commerce Department. The initiative aligns with broader efforts to strengthen U.S. leadership in quantum computing.
Shares of IBM, D-Wave Quantum (QBTS), Rigetti (RGTI), and GlobalFoundries (GFS) rose following the announcement, reflecting investor optimism about the sector’s growth prospects.