Donald Trump's big quantum computing push: US to invest $2 billion in IBM, GlobalFoundries, other firms

Key points

• The Trump administration will take $2 billion in equity stakes across nine quantum-computing companies, including a new IBM venture, in a major push to secure U.S. leadership in the emerging technology and counter China.
• The move shows the growing prominence of quantum computing, where recent technological breakthroughs have deepened investor interest in its potential to speed up tasks ranging from drug discovery to financial modelling and cryptography.
• The U.S. Department of Commerce said on Thursday that IBM would receive $1 billion to set up a company to manufacture quantum chips, while contract chipmaker GlobalFoundries will get $375 million to build a U.S. factory producing components for different types of quantum machines.
• IBM said the new company, Anderon, will be based in New Albany, New York, and become America's first dedicated quantum chip manufacturing facility.
• It did not disclose the government's stake in the new company.