IBM Secures Billion-Dollar Funding for Quantum Wafer Production

IBM's subsidiary Anderon has secured $1 billion in funding from the US Department of Commerce under the CHIPS program. The funds will be used to develop quantum wafer production at a facility in Albany, New York. IBM announced the creation of Anderon as the first US-based 300-mm quantum wafer production facility for various developers.

Anderon has already started producing quantum wafers for superconducting qubit arrays, quantum input-output components, and readout circuits. The company claims that the first products are already moving through the production line. In the next step, Anderon plans to expand its product range to other quantum modalities.

The deal is part of IBM's plan to invest more than $10 billion in quantum computing over five years. According to IBM CEO Arvind Krishna, investments in quantum technologies are expected to significantly impact IBM's revenue and profit by 2028-2029.