U.S. Government to Invest $2 Billion in Quantum Computing Firms Including IBM, 'Beyond Grants to Equity'

The Trump administration is moving to support the growth of the quantum computing industry with a $2 billion package of funding and equity investments. The government is directly participating in the investment by acquiring company shares, accelerating efforts to secure leadership in next-generation strategic industries. The U.S. Department of Commerce announced on July 21 that it will provide a total of $2 billion in grants and equity investments to nine quantum computing firms, including IBM, GlobalFoundries, D-Wave, Rigetti, Infracore, and Sycamore. IBM is the biggest beneficiary, receiving $1 billion to build the first dedicated quantum chip manufacturing facility in the U.S.