Trump Admin Takes Equity Stake in IBM and Other Quantum Computing Companies
The Trump administration is investing over $2 billion in nine quantum computing companies, acquiring minority equity stakes in each. This move aims to bolster the U.S. quantum ecosystem, which is considered vital for national security and technological leadership. The investment includes significant funding for IBM to establish a quantum chip foundry and support for other companies addressing technical challenges in the field.
- ▪The Department of Commerce is investing more than $2 billion in quantum computing companies.
- ▪Half of the investment is allocated to IBM for building a quantum chip foundry in Albany, New York.
- ▪The investment aims to enhance national security and technological resilience in the U.S.
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After taking equity stakes in chipmakers and rare-earth element miners, the Trump administration has a new industry on its radar: quantum computing. On Thursday, the Department of Commerce announced that it was investing more than $2 billion in nine quantum computing companies. In turn, it’ll receive “a minority, non-controlling equity stake” in each.cnx.cmd.push(function(){cnx({"playerId":"92b7b46b-43ed-4e0e-b21b-2c999302d9d7","settings":{"advertising":{"macros":{"AD_UNIT":"/23178111854/od.gizmodo.com/article","CHILD_UNIT":"article","POST_ID":"2000761959","POST_TYPE":"post","CHANNEL":"tech","SECTION":"commerce","SUBSECTION":"","CATEGORIES":"commerce","TAGS":"donald-trump,ibm,quantum-computing","NOP":"0"},"timeBeforeFirstAd":0}}}).render("cnx-player-main")}); Quantum computers are an…
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