The U.S. government is set to allocate over $2 billion in incentives for quantum computing firms under the CHIPS and Science Act, with significant investments directed toward domestic manufacturing. A notable recipient is IBM’s new start-up, Anderon, which will receive $1 billion to establish the nation’s first pure-play quantum foundry. GlobalFoundries will also benefit, securing $375 million to expand its Quantum Technology Solutions business, while the Commerce Department will take equity stakes in both companies.
This initiative underscores a growing commitment to bolster the U.S. semiconductor and quantum computing sectors, potentially impacting stock performance in these areas. While the investments may enhance the competitive landscape, IonQ, a leader in quantum accuracy, was notably excluded from the government’s funding list. Despite this, IonQ’s advancements, particularly its record 99.99% two-qubit gate fidelity, position it favorably in the market.
Investors may find an opportunity in IonQ, as its exclusion from government funding could create a buying opportunity for a company that is arguably at the forefront of quantum technology.
Source: fool.com