DoC CHIPS Quantum awards: $1B IBM foundry, $2B investment, $100M Rigetti LOI, D-Wave LOI
Key Questions
What CHIPS Act funding has been announced for IBM's quantum foundry?
A $1B federal incentive supports IBM's quantum foundry, matched by IBM's own $1B investment. This forms a major award under the CHIPS Act focused on quantum technology advancement.
What is the $100M LOI awarded to Rigetti Computing?
The Department of Commerce signed a letter of intent to provide Rigetti with $100M for superconducting quantum computing development. This funding targets the company's quantum technology initiatives as part of broader national efforts.
What does the separate $2B federal quantum investment involve?
It includes federal funding with equity stakes in quantum projects, signaling strong national security R&D priorities. Related LOIs also support companies like Rigetti and D-Wave in superconducting and annealing technologies.
Major CHIPS Act award announcements: $1B federal incentive supporting IBM quantum foundry plus IBM's $1B match; separate $2B federal quantum investment with equity stakes; new $100M DoC LOI to Rigetti and D-Wave LOI for superconducting quantum computing. Reveals emerging entrants in competitive tech funding.