The U.S. Department of Commerce has taken a significant step in advancing the country’s quantum computing sector by securing $2.013 billion in federal funding. This funding, authorized under the CHIPS and Science Act, involves nine letters of intent aimed at fostering innovation across multiple quantum technology companies.
$2 Billion Investment in Quantum Computing
This initiative will support a diverse portfolio of companies, including two domestic quantum foundries and seven quantum computing enterprises. The objective is to tackle critical technology challenges related to utility-scale and fault-tolerant quantum computers.
Strengthening National Security and Innovation
Quantum computing plays a crucial role in various sectors, including national defense, biopharmaceuticals, advanced materials, financial modeling, and energy systems. Establishing a robust domestic quantum ecosystem is vital for U.S. national security and maintaining technological leadership.
- Funding will support two quantum foundries: GlobalFoundries and IBM.
- GlobalFoundries is set to receive $375 million to create a secure domestic foundry.
- IBM will secure $1 billion to establish a subsidiary focused on developing superconducting wafers.
Portfolio of Quantum Companies
The Department of Commerce’s funding plan includes a strategic approach to support seven companies dealing with various quantum modalities and technology challenges. This portfolio strategy will provide needed capital to address pressing engineering issues.
- Atom Computing: $100 million for neutral-atom quantum computing advancements.
- Diraq: Up to $38 million to enhance silicon spin quantum computing technologies.
- D-Wave: $100 million for advancements in superconducting quantum systems.
- Infleqtion: $100 million for engineering systems in neutral-atom-based quantum computers.
- PsiQuantum: $100 million to solve photonic quantum computing challenges.
- Quantinuum: $100 million aimed at scaling trapped-ion-based quantum computing.
- Rigetti: Up to $100 million for next-generation superconducting technologies.
Investment Structure and Future Proposals
The funding arrangement requires the Department of Commerce to obtain a minority, non-controlling equity stake in each supported company. This ensures a return on investment for U.S. taxpayers while bolstering innovative capabilities.
Additionally, the CHIPS Research and Development Office is actively seeking proposals for further research and commercial solutions in microelectronics technology. Interested applicants can find more details at www.grants.gov.
