Anderon, a company of the Ibm group, announced that it has secured a $1 billion funding from the U.S. Department of Commerce; this is a grant for research and development provided under the Chips and Science Act of 2022.
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The funding will be used to accelerate Anderon’s initiatives aimed at enhancing national quantum wafer production capabilities, the company said.
The agreement had been in the works for several months. In May, the U.S. Department of Commerce announced the awarding of grants totaling two billion dollars to nine companies operating in the quantum computing sector, including Ibm, a leader in the race to develop computers that use quantum mechanics to solve problems at speeds far exceeding traditional supercomputers.
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Last week, Rigetti Computing, D-Wave Quantum, and Quantinuum signed agreements worth $100 million each with the Department, in exchange for shares in their respective companies.
Anderon also benefits from an additional $1 billion investment from Ibm.
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