IBM-Backed Anderon Lands $1 Billion CHIPS Award for Quantum Wafer Manufacturing

Anderon, a company owned by IBM, has finalized an agreement with the US Department of Commerce to receive a $1 billion CHIPS award. This funding will accelerate Anderon's research and development efforts in creating quantum wafer manufacturing capabilities.

The award was announced in May under a letter of intent between the Department and IBM. Anderon operates a state-of-the-art 300-millimeter pure-play quantum wafer foundry, backed by an additional $1 billion investment from IBM.

Anderon's CEO, Mukesh Khare, stated that the agreement will strengthen their ability to deliver manufacturing scale for the quantum industry. The company plans to expand its focus on wafer fabrication and other quantum modalities in the future.