The U.S. Department of Commerce awarded $2 billion in CHIPS Act grants to nine quantum computing companies on May 21, 2026. The federal government will receive minority equity stakes in exchange for the funding.
IBM secured a $1 billion grant to launch Anderon, a standalone entity in Albany, New York. This facility will serve as the first dedicated 300-millimeter quantum wafer foundry in the United States. IBM is matching the federal grant with a $1 billion cash investment.
GlobalFoundries will receive $375 million under the program. D-Wave, Rigetti, and Infleqtion were awarded approximately $100 million each.
IBM shares rose 8% following the announcement as quantum-related stocks surged. The news boosted thematic ETFs such as QTUM and broader semiconductor funds.