IBM Secures $1 Billion CHIPS Award for New York Quantum Wafer Facility
Updated
Updated · Yahoo Finance · Sep 17
IBM Secures $1 Billion CHIPS Award for New York Quantum Wafer Facility
3 articles · Updated · Yahoo Finance · Sep 17
Summary
$1 billion in U.S. CHIPS Act funding was finalized for IBM's Anderon subsidiary to support R&D at a 300-millimeter quantum wafer facility in Albany, New York.
IBM is matching the award with another $1 billion, advancing a major U.S. quantum manufacturing project that investors viewed as a concrete capacity expansion.
IBM shares rose Thursday alongside IonQ, whose separate update highlighted progress on AI-assisted quantum optimization rather than manufacturing.
IonQ said work with NVIDIA, Oak Ridge National Laboratory and the University of Tennessee kept quantum circuit generation near 28 seconds across tested problem sizes, underscoring parallel tracks of industry development.