Federal incentives under the CHIPS Act target IBM and GlobalFoundries to accelerate domestic quantum computing development.
The U.S. Department of Commerce will allocate $2.01 billion in federal incentives to support quantum computing companies, aiming to expand domestic capabilities. The funding, part of the CHIPS and Science Act, includes $1 billion for IBM and $375 million for GlobalFoundries to build new quantum computing foundries.
Quantum computing remains a niche sector, primarily used in government and research, but is expected to grow at a 20.5% CAGR from 2025 to 2030. Advances in scalability and accuracy could broaden applications, including AI, drug development, and cybersecurity. The recent investment surge follows increased federal focus on the sector.
The announcement has already driven gains in related stocks, reflecting market optimism about the sector’s long-term potential.