IBM Wins US Funding to Back $2 Billion Quantum Chip Venture

The Trump administration has agreed to award $1 billion to International Business Machines Corp. to build a foundry for producing quantum computing chips, part of a broad strategy to bolster US leadership in an emerging industry.

IBM will also invest $1 billion into a new company, called Anderon, which will produce the processors, the company said in a statement on Thursday.

IBM shares rose 4.1% in early trading in New York on Thursday. Other companies that received awards also jumped. GlobalFoundries Inc., a semiconductor firm developing specialized chips for quantum computing, rose as much as 11%. D-Wave Quantum Inc. ...