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🚨 IBM surges after $1 billion quantum support package from the U.S. government
IBM shares rose more than 8% after the U.S. announced a $2 billion support program for the quantum computing industry for nine tech companies. Among them, IBM is the largest recipient with funding of up to $1 billion.
IBM stated that the company will collaborate with the U.S. government to build the first custom-designed quantum chip manufacturing platform in the U.S. The project will be operated by a new company called Anderon in Albany, New York, aiming to develop advanced quantum wafer technology for many businesses in the future.
In addition to government support, IBM will also invest an additional $1 billion into this project. The company believes that the quantum technology industry could generate up to $800 billion in global economic value by 2040 and play a significant role in AI, security, and scientific research.
#IBM #QuantumComputing #AI #StockMarket #Technology