Dan Ives Called IBM ‘Sleeping Giant:’ Quantum Bet Proves Him - IBM (NYSE:IBM)
The project includes a $1 billion CHIPS Act commitment and a $1 billion IBM investment to expand domestic quantum wafer manufacturing.
- On Thursday, the U.S. Department of Commerce announced a letter of intent to build a 300mm quantum chip foundry in Albany. The facility will receive $1 billion in federal CHIPS research funding, matched by $1 billion from IBM.
- Anderon, a new company created to operate the foundry, aims to scale quantum computing from limited lab research to industrial manufacturing. The foundry model standardizes production, moving beyond isolated research environments.
- Senate Democratic Leader Chuck Schumer cited quantum technologies generating up to $850 billion in value by 2030. The investment supports workforce development at the University at Albany and regional research partners.
- IBM has already deployed more than 90 quantum systems globally and is working toward delivering a large-scale fault-tolerant quantum computer by 2029. The company built an ecosystem of more than 325 partners across industry, academia, and government.
- This project joins a wave of CHIPS-funded initiatives across New York, including GlobalFoundries' second fab and Micron's memory project. These efforts establish the United States as a leader in advanced semiconductor research and development, strengthening national security.
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Dan Ives Called IBM ‘Sleeping Giant:’ Quantum Bet Proves Him - IBM (NYSE:IBM)
A new company backed by International Business Machines Corp. (NYSE:IBM) is receiving a $1 billion U.S. government investment to establish America’s first quantum foundry, supporting Wall Street forecasts that IBM will be a central player in the global quantum industry. Validating The ‘Massive Upside’ This historic federal backing confirms Wedbush Securities analyst Dan Ives‘ thesis. Analyzing the tech sector’s trajectory, Ives told CNBC that IB…
US, IBM partner to build quantum wafer foundry for chip making
The United States is moving to build its first dedicated quantum wafer foundry through a new partnership between IBM and the U.S. Department of Commerce, marking a push to scale quantum computing from lab research to industrial manufacturing. The initiative centers on a new company called Anderon, which will operate as a pure-play quantum foundry based in Albany, New York. The project will receive $1 billion in CHIPS Act incentives from the Depa…
The shares of International Business Machines (IBM) have experienced a 7% growth in the New York Stock Exchange after the United States Government announced an investment of about $2 billion (€1,725 million) in acquiring shares in companies in the quantum computing sector.
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