The US government has taken $2 billion in equity stakes across nine quantum computing startups, allocating $100 million each, using funds that Congress originally designated for semiconductor public research under the CHIPS and Science Act.
The single largest commitment is Anderon, a new foundry entity capitalized with $1 billion from the government and $1 billion from IBM, inheriting IBM personnel and IP to fabricate quantum processing units for IBM and third-party clients. This company would not exist without federal backing, making the legality question more than procedural.
Rep. Zoe Lofgren (D-Calif.), ranking member of the House Science, Space, and Technology Committee, has formally challenged the deals as an illegal repurposing of appropriated funds. Read the full piece for the specific statutory language at issue and what it means for the other eight companies that just banked $100 million each.
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