IBM Pours $3 Billion into Quantum Computing Ambitions

IBM is committing $3 billion to its quantum computing ambitions, including a joint effort with the US government worth $2 billion and another $1 billion from IBM's own coffers.

The investment will be used to establish an industrial-scale quantum hardware production facility at Albany Foundry in New York, which is expected to produce wafers for superconducting qubit arrays and signal and readout chains. The project has already started with pilot production running through the line.

Fatima Boolani, an analyst at Citi, noted that the federal funding lends credibility to a market still in its infancy.