The Department signed letters of intent with the companies, and its CHIPS Research and Development Office will provide the incentives, the Department’s National Institute of Standards and Technology (NIST) said in a Thursday (May 21) press release.
The incentives are designed to strengthen America’s position in quantum computing, which is a frontier technology that has significant implications for national security and technological resilience, according to the release.
The agreements also are designed to provide a return for U.S. taxpayers by supplying the Commerce Department with a minority, non-controlling stake in each company, per the release.
“With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation,” Commerce Secretary Howard Lutnick said in the release. “These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.”
PYMNTS reported in February 2025 that quantum computing harnesses the properties of quantum mechanics to perform complex calculations at unprecedented speeds.
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The proposed incentives announced Thursday include $1 billion for IBM; $375 million for GlobalFoundries; $100 million each for Atom Computing, D-Wave, Infleqtion, PsiQuantum, Quantinuum and Rigetti; and $38 million for Diraq, according to the release.
IBM said in a Thursday press release that the proposed CHIPS award will support America’s first purpose-built quantum foundry, Anderon, which will produce advanced quantum wafers for a broad range of companies.
IBM Chairman and CEO Arvind Krishna said in the release: “With the support of the U.S. Department of Commerce, Anderon will be well-positioned to fuel America’s fast-growing quantum technology industry.”
GlobalFoundries said in a Thursday press release that the proposed award will accelerate the build-out of Quantum Technology Solutions, a new business that will scale quantum manufacturing.
The incentives announced Thursday are provided under the CHIPS and Science Act, according to the NIST press release.
PYMNTS reported in April 2024 that with direct funding under the CHIPS and Science Act, the U.S. government is taking steps to ensure that the companies and industries building the critical infrastructure of tomorrow are appropriately supported.
