WSJ Says US to Invest $2 Billion in 9 Quantum Computing Firms, With IBM to Get $1 Billion

The US government plans to invest a total of $2 billion in nine domestic quantum computing companies.

The Wall Street Journal reported on May 21 that the Commerce Department plans to provide about $2 billion in subsidies to nine US quantum computing companies through contracts that include equity investments. The move would speed up the administration’s effort to nurture an early-stage industry that has attracted a wave of corporate and investor capital in recent months, the newspaper said.

Of the $2 billion package, the Commerce Department plans to give $1 billion to IBM. The Wall Street Journal said IBM is among the leaders in the race to develop computers that use quantum mechanics to solve problems far faster than conventional supercomputers. Combined with advances in artificial intelligence, quantum computing has the potential to accelerate scientific research, making it an emerging economic and national security priority for the Trump administration.

Semiconductor manufacturer GlobalFoundries will receive $375 million. The remaining companies will each receive $100 million, while quantum computing startup Diraq is set to get $38 million.

US-listed companies developing quantum-related technologies, including D-Wave Quantum, Rigetti Computing and Infleqtion, are also expected to be included in the Commerce Department program. The contracts have not yet been finalized, the Journal said.

As part of the investment, the US government plans to acquire minority stakes in each quantum computing company. The Commerce Department did not disclose details on the size or structure of the stakes it would take in each company. Commerce Secretary Howard Lutnick said the decision shows the Trump administration is leading the world into a new era of American innovation.

On the news, IBM and GlobalFoundries shares jumped about 7% in premarket trading.