Paul Dabbar’s Post

Today President Trump’s administration, the U.S. Department of Commerce and Secretary Lutnick announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act in the quantum computing and first quantum chip foundaries sectors. These funds will support a portfolio of quantum companies, including two domestic quantum foundry companies and 7 quantum computing companies to accelerate solving the most critical technology challenges in the race to develop utility scale, fault-tolerant quantum computers. The announcement will create the first two commercial quantum foundries (with GlobalFoundries and IBM ) to help establish and accelerate foundational domestic manufacturing capacity for the quantum sector. And the seven quantum computing transactions are a portfolio approach to strengthen and accelerate U.S. leadership across multiple quantum modalities. These qubit modalities including neutral atom, silicon-spin, superconducting, photonic, and trapped ion and accelerate R&D for the most consequential unresolved engineering problems including device reproducibility, optical complexity, error rates, cryogenic systems integration, control hardware, ultra-fast readout electronics, photonic loss, and interconnects. This announcement alone is over 2x the total investment made by the President in his first administration under the National Quantum Initiative Act in 2018. The Department will receive a minority, non-controlling equity stake in each company as a condition for receiving the funds to enhance the return for the U.S. taxpayer. Continued and Accelerating American leadership in frontier technologies. Infleqtion Diraq Rigetti Computing Quantinuum Atom Computing PsiQuantum D-Wave https://lnkd.in/eq_UkBF4