The US will invest $2 billion in quantum technologies amid competition with China - ForkLog: cryptocurrencies, AI, singularity, future

# The US Invests $2 Billion in Quantum Technologies Amid Competition with China

The US Department of Commerce has allocated $2 billion to American companies working on quantum computing. The US administration will receive minority stakes in these projects, reports WSJ.

Half of the amount will go to IBM "to facilitate the creation of supercomputers capable of solving some of the most pressing global problems."

The company will receive $1 billion through the CHIPS Act to establish Anderon — a separate enterprise to launch the first specialized quantum factory in the US in Albany.

IBM also committed to invest an additional $1 billion of its own funds.

Other recipients of government funding include:

• GlobalFoundries — $375 million;
• Rigetti — $100 million;
• D-Wave — $100 million;
• Infleqtion — $100 million;
• PsiQuantum — $100 million;
• Diraq — $38 million.

In total, the program will cover nine companies.

Rigetti separately confirmed signing a letter of intent with the US Department of Commerce for up to $100 million. The company stated that the funds will be used for research and development related to scaling superconducting quantum computers.

The statement also mentions that the agency expects to receive a stake in the company proportional to the amount of funding.

PsiQuantum also announced a letter of intent for $100 million. It said that, along with its own funding, it will direct resources toward developing photonic components, packaging, and other technologies for scalable quantum systems and the American semiconductor industry.

The program has become part of Washington’s broader strategy to support critical technologies and local supply chains. US authorities are also preparing a separate executive order to support the quantum industry.

The government views this initiative as one of the key areas in technological competition with China.

Sources told WSJ that the scheme with government participation is expected to benefit taxpayers if the value of the companies increases.

Recall that in May, Keeper Security CEO Darren Guccione stated that AI and quantum technologies could threaten existing security systems.