IBM Secures $1 Billion in CHIPS Act Funding for Quantum Wafer Expansion

IBM's unit has secured a significant award from the US government under the CHIPS Act. The unit will receive approximately $1 billion to expand its quantum wafer manufacturing capabilities.

The funding is part of the US government's efforts to boost domestic semiconductor production and reduce reliance on foreign suppliers.

The CHIPS Act aims to provide financial support to companies that invest in semiconductor research, development, and manufacturing within the United States.