U.S. Government Invests in Quantum Computing with $300M Partnerships

The U.S. government has become an investor in quantum computing, partnering with three companies to advance the technology.

Under the Chips and Science Act, passed in 2022, the Commerce Department finalized deals with Rigetti Computing, D-Wave Quantum, and Quantinuum, providing $100 million each in research-and-development grants. The government will take a minority stake in each company proportional to the funding amount.

The partnerships come as Washington sees quantum computing as a national security issue and an opportunity for the U.S. to assert global market dominance. Citi analyst Fatima Boolani notes that federal backing is a clear sign of the technology's growing credibility, giving investors 'more confidence from a qualitative standpoint'.

IBM is launching its own standalone quantum chip foundry, Anderon, with a joint $2 billion commitment split evenly between IBM and the Commerce Department. This move reflects the government's intent to secure supply chains and expand domestic manufacturing, as seen in its $375 million deal with GlobalFoundries.