U.S. Will Invest $2 Billion In Quantum Computing Firms And Take Equity

The U.S. will invest $2 billion in grant funding in return for equity stakes in nine quantum computing companies, the Wall Street Journal first reported citing the Commerce Department, including a $1 billion grant for IBM as the Trump administration’s push to take equity stakes in tech and industrial manufacturers continues. Legacy tech firm IBM is expected to receive the largest grant, worth about $1 billion, which it will use alongside $1 billion of its own funds to build a quantum chip foundry to build the specialized semiconductors necessary to power quantum computers in the U.S., the company announced in a separate press release on Thursday. Learn more about your ad choices. Visit megaphone.fm/adchoices