IBM Invests $1 Billion More in Quantum Computing Subsidiary

IBM has committed $1 billion to Anderon, its subsidiary, in addition to a $1 billion CHIPS award finalized under the CHIPS and Science Act. This funding will support research and development at Anderon's 300-millimeter pure-play quantum wafer foundry in New York. The facility is already running its first wafers, with customers including IBM and D-Wave Quantum expressing interest.

Anderon signed the letter of intent in May, which has now been converted into a finalized award. This deal structures research and development funding for Anderon, a key step towards scaling up quantum computing capabilities.

'IBM's quantum roadmap requires a manufacturing foundation that can scale at the pace our work demands,' said Jay Gambetta, director of IBM Research.