IBM Secures $1B CHIPS Grant for Quantum Computing Expansion

IBM has secured a massive $1B CHIPS grant for its subsidiary Anderson to expand its quantum wafer production capacity in Albany. This funding boost brings IBM's total investment in this project to $2B, with the company already producing its first quantum wafers.

The CHIPS Act aims to support domestic chip manufacturing and research, including quantum computing. As part of this effort, DARPA has tapped IBM as a participant in its validation efforts for an error-corrected, utility-scale quantum computer by 2033.

Mukesh Kare has been named CEO of Anderson, which will lead the development of the 300mm quantum wafer foundry in Albany. This significant investment and partnership highlight IBM's commitment to advancing quantum computing technology.