IBM unit Anderon secures $1B CHIPS Act award for quantum foundry

Anderon LLC, an IBM (NYSE: IBM) company headquartered in Albany, New York, has finalized a $1 billion award under the CHIPS and Science Act with the U.S. Department of Commerce to advance quantum wafer manufacturing capabilities.

The agreement, first announced in May under a letter of intent between IBM and the Department, follows an additional $1 billion investment from IBM into Anderon. The company operates a 300-millimeter pure-play quantum wafer foundry and serves customers across the quantum computing ecosystem.

"This agreement with the Department of Commerce strengthens our ability to deliver the manufacturing scale the quantum industry needs," said Mukesh Khare, CEO of Anderon.

Jay Gambetta, Director of IBM Research and IBM Fellow, said Anderon's focus on wafer fabrication supports IBM's quantum roadmap. "Anderon's focus on wafer fabrication gives us exactly that and strengthens our ability to execute and accelerate progress toward the next era of quantum computing."

Anderon's foundry produces wafers supporting superconducting qubit arrays, quantum input/output signaling, and readout signal chain components. The company said it plans to expand to other quantum modalities in the future.

The company also disclosed that the first quantum wafers are now running through its manufacturing facility, marking an early production milestone. Anderon said this activity reflects its ability to translate pre-production research into commercial-grade quantum wafer technologies.

You May Also Be Interested In

• IBM (IBM) call put ratio 1.1 calls to 1 put into quarter results
• Comcast (CMCSA) call put ratio 1.3 calls to 1 put into quarter results
• Tesla (TSLA) call put ratio 1.7 calls to 1 put into quarter results