IBM Secures $1B Quantum Foundry Funding

International Business Machines Corp. is significantly expanding its quantum manufacturing capabilities with a $1 billion award from the CHIPS and Science Act. This federal funding, finalized recently, is matched by an additional $1 billion investment from IBM itself, totaling a $2 billion commitment to advanced quantum technology. The substantial capital injection is earmarked for the development and operation of a state-of-the-art, 300-millimeter pure-play quantum wafer foundry located in New York. This facility is essential for IBM's quantum roadmap, enabling the scaling of production to meet future demands. The foundry aims to serve not only IBM but also other entities in the quantum computing sector, with companies like D-Wave Quantum already expressing interest. The first wafers are reportedly already in production at the New York site, marking a critical step in establishing a robust manufacturing foundation for quantum advancements.