US government takes $2 billion equity stake in nine quantum computing firms
Summary
The US government announced it will invest $2 billion in nine quantum computing companies, including big names like IBM and GlobalFoundries. This move is part of a strategy to boost American technology and jobs in the field of quantum computing.Key Facts
- The US commerce department signed letters of intent to invest $2 billion in nine quantum computing firms.
- IBM will receive $1 billion, GlobalFoundries $375 million, and several smaller companies will get $100 million or less.
- Among the companies funded is PsiQuantum, which has investors linked to President Donald Trump’s family, specifically his son’s venture capital firm.
- The investment aims to create jobs and advance US capabilities in quantum technology.
- This action follows a pattern where the government takes equity stakes in strategic companies in technology sectors.
- The agreements are not final, and the government is looking for more companies to join.
- Quantum computing uses atomic-level properties to perform calculations much faster than regular computers, but still faces engineering challenges.
- Some companies involved have political ties, like D-Wave Quantum linked to a Pentagon official and others linked to Trump family interests.
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