The US government is taking a quantum leap of faith.
Quantum computing companies soared today after the Trump administration announced it’s offering $2 billion in grants to nine firms.
The deals involve the government taking equity stakes in the companies, the Wall Street Journal reported—similar to the strategy it used to invest in critical minerals last year, though the exact amount hasn’t been disclosed.
The largest chunk of money—a whopping $1 billion—is going to IBM, which surged 12.5% on the news. The funds from the Commerce Department will be used to create a new company, called Anderon, that will build and operate the first US-based “purpose-built” quantum foundry, IBM said.
Though quantum computing is still in its infancy, its ability to perform tasks exponentially faster than the most powerful supercomputers present a potential future threat to national security. The move by Washington today is a clear sign that the White House is gearing up for the next major tech race not named AI.
📸 : Getty / Companies
The US government is taking a quantum leap of faith.
Quantum computing companies soared today after the Trump administration announced it’s offering $2 billion in grants to nine firms.
The deals involve the government taking equity stakes in the companies, the Wall Street Journal reported—similar to the strategy it used to invest in critical minerals last year, though the exact amount hasn’t been disclosed.
The largest chunk of money—a whopping $1 billion—is going to IBM, which surged 12.5% on the news. The funds from the Commerce Department will be used to create a new company, called Anderon, that will build and operate the first US-based “purpose-built” quantum foundry, IBM said.
Though quantum computing is still in its infancy, its ability to perform tasks exponentially faster than the most powerful supercomputers present a potential future threat to national security. The move by Washington today is a clear sign that the White House is gearing up for the next major tech race not named AI.
📸 : Getty / Companies
