politics
Trump Administration Signs Deals for Equity Stakes in Nine Quantum Firms
The U.S. government will provide more than $2 billion to nine quantum computing companies in exchange for minority ownership interests. IBM will receive $1 billion to create a new chip foundry in Albany, New York.
May 21, 6:08 PM·1m read2 sources
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The Trump administration has signed preliminary agreements to invest more than $2 billion in nine quantum computing companies in return for minority equity stakes. The Department of Commerce will distribute the funds through letters of intent tied to research and development projects. The companies include D-Wave Quantum, Rigetti Computing, Infleqtion, and IBM.
IBM will receive $1 billion from the Department of Commerce to launch Anderon, a new standalone company that will build a quantum chip foundry in Albany, New York. IBM will also contribute $1 billion of its own funds to the venture. Rigetti Computing will receive $100 million in CHIPS Act funding over three years.
The Department of Commerce will take an equity stake in Rigetti in exchange for the capital. D-Wave Quantum and Infleqtion each announced similar $100 million letters of intent linked to government ownership interests.
IBM shares increased more than 14 percent over the past five trading sessions. Brandon Sun, managing director at Cohen Capital Markets, said government co-investment may give institutional investors greater confidence to evaluate these companies more seriously.
" — Brandon Sun, managing director at Cohen Capital Markets, May 22, 2026 (Yahoo Finance) The administration previously used the same equity-for-funding model with mineral suppliers such as MP Materials and with chipmaker Intel last year.
