US awards $2B quantum grants

The U.S. government is awarding $2 billion in grants to quantum computing firms and taking equity stakes in several companies to bolster national technology leadership.

IBM is set to receive half of the total funding to build a quantum chip foundry.

The U.S. Commerce Department finalized deals with nine companies, including GlobalFoundries, as part of a strategic push to secure domestic supply chains for critical future technologies.

Officials stated the investment is necessary to counter rapid advancements in quantum capabilities by global adversaries.