U.S. Department of Commerce Announces Letters of Intent With 9 Companies For $2 Billion

Insider Brief

The U.S. Department of Commerce signed nine letters of intent totaling $2.013 billion in proposed CHIPS Act incentives to support quantum foundries and quantum computing companies developing utility-scale, fault-tolerant quantum systems.

IBM and GlobalFoundries are set to receive planned funding to expand domestic quantum manufacturing infrastructure, including superconducting wafer fabrication and secure multi-modality quantum foundry capabilities.

The proposed incentives span multiple quantum computing approaches, with companies including Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum, and Rigetti Computing receiving planned support for challenges such as error correction, cryogenic integration, photonic packaging, and large-scale qubit control.

PRESS RELEASE — The Department of Commerce today announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act.