IBM to invest $10 billion for large-scale quantum computer by 2029
The investment will fund research, manufacturing and mergers and acquisitions as IBM seeks a fault-tolerant quantum computer by 2029.
- On Thursday, IBM announced a $10 billion, five-year investment in quantum computing, targeting delivery of the first large-scale, fault-tolerant quantum computer by 2029.
- The Trump administration awarded IBM a $1 billion grant last week to launch Anderon, a dedicated quantum chip foundry headquartered in Albany, New York.
- IBM has already deployed more than 90 quantum systems in partnership with 325 companies and universities to tackle scientific challenges across chemistry, biology, and materials science.
- Separately, IBM will invest a share of $5 billion in Project Lightwell, a commitment backed by more than 20,000 engineers to secure open source software vulnerabilities.
- While Alphabet CEO Sundar Pichai stated last year that "practically useful" quantum computers were five to 10 years away, IBM aims to "advance our leadership position in quantum.
24 Articles
24 Articles
GFS, IBM and QBTS to Benefit as Washington's Huge Quantum Bet Signals New Era
The U.S. Department of Commerce has signed letters of intent to inject $2 billion into nine quantum computing and hardware companies under the CHIPS and Science Act. The capital allocation includes a $1 billion commitment to a newly formed IBM (NYSE: IBM) subsidiary, alongside substantial stakes in GlobalFoundries (NASDAQ: GFS), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS). What triggered a parabolic surge in publicly traded…
New York, USA. IBM announced that it will invest more than $10 billion over the next five years in quantum computing, a state-of-the-art technology that could make today's most powerful computers look slow and limited.The US tech giant, founded in 1911, claims to have already deployed more than 90 quantum systems—a figure higher than all of its rivals together—and aims to deliver the first large-scale commercial quantum computer by 2029.
Stock Market Today, May 28: Rigetti Computing Extends Gains on Quantum Optimism
Rigetti Computing (NASDAQ:RGTI), a developer of superconducting quantum computers and processors, closed Thursday at $27.03, up 9.79%. The stock extended its gains after last week’s news of U.S. government funding program for domestic quantum firms.Trading volume reached 85.2 million shares, coming in about 146% above its three-month average of 34.7 million shares. Rigetti Computing IPO'd in 2021 and has grown 173% since going public.How the mar…
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