Catenaa, Friday, May 22, 2026- IBM stock has rallied over 14% since Thursday, following a landmark announcement by the US Commerce Department detailing a $2 billion CHIPS and Science Act initiative to fund domestic quantum computing firms.
The move added about $26 billion to IBM’s market cap, bringing it to $237.8 billion.
Shares continued their rally on Friday, with a gain of 2%.
IBM secured the single-largest allocation in the program, a $1 billion government grant, which the tech giant will match with $1 billion of its own capital to construct “Anderon” in Albany, New York.
It’s being billed as America’s first pure-play, dedicated 300mm quantum chip manufacturing foundry.
The hype around this deal reflects a transition in IBM’s quantum roadmap from a long-term research and development project into a critical national-level manufacturing platform.
In turn, the company is viewed as the primary infrastructure and foundry provider for its own hardware and that of its competitors. Most analysts on Wall Street have come out in favor of the news.
This funding will support two US-based quantum foundry companies, GlobalFoundries and IBM, as well as seven quantum computing companies.
The aim is to address key engineering challenges and expand domestic capacity for quantum technology manufacturing.
IBM and GlobalFoundries are set to receive significant portions of this federal support.
According to IBM and DOC, the company will use $1bn to establish Anderon, a new subsidiary that will act as the country’s first dedicated quantum chip foundry.
Anderon, to be headquartered in Albany, New York, will focus on the production of quantum-grade superconducting wafers, supporting multiple hardware vendors and quantum modalities.
IBM will match the federal support with $1 billion of its own funding, provide intellectual property and personnel, and serve as the anchor for the new foundry’s operations.
GlobalFoundries, which is expected to receive $375m, will establish a secure domestic quantum foundry manufacturing various types of architectures needed for large-scale quantum computers.
The CHIPS incentives will also fund seven additional quantum companies to address a range of technical challenges across modalities such as neutral atom, silicon-spin, superconducting, photonic, and trapped ion quantum computing.
The companies, which include Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum, and Rigetti, will receive funding packages ranging from $38 million to $100 million each.
These funds are earmarked for advancing key technologies, including reproducibility, error correction, scalable integration, and device performance.
As part of the arrangement, the DOC will receive a minority, non-controlling equity stake in each recipient company.
US Secretary of Commerce Howard Lutnick said: “With today’s CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation.
“These strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.”
Quantum computing is expected to impact fields such as defence, materials science, pharmaceuticals, and financial modelling.
The support for new manufacturing capacity and research seeks to strengthen national security and position the US at the centre of global quantum technology development.
IBM and Anderon aim to produce quantum wafers at scale and help meet the anticipated global demand for quantum computing hardware. These incentives mark one of the largest federal commitments to date in quantum research and manufacturing.
Final establishment of Anderon remains subject to further negotiation and formal documentation between IBM and the DOC.
IBM chairman and CEO Arvind Krishna said: “Our work in silicon wafer fabrication has been a key to IBM’s success and will be critical to enable a broader quantum technology landscape that will reshape global innovation and economic competitiveness.
