U.S. to Award Quantum-Computing Firms $2 Billion and Take Equity Stakes

[Zorro]

Source: Wall Street Journal

The Trump administration is awarding $2 billion in grants to nine quantum-computing companies in deals that include U.S. government equity stakes, the Commerce Department said.

The move accelerates the administration’s plans to boost the nascent industry, which has attracted a wave of investment from investors and businesses in recent months.

The department has agreed to give $1 billion of the package to IBM IBM 11.98%increase; green up pointing triangle, a leader in the race to build computers that use quantum mechanics to solve problems much faster than traditional supercomputers. Coupled with advances in artificial intelligence, quantum computing has the potential to turbocharge scientific research, making it an economic and national security priority for President Trump.

IBM and other companies are working to develop specialized chips for quantum computing, a focus for the government in its bid to spur domestic supply chains. IBM said it is investing $1 billion of its own cash alongside the award to set up what it says is the nation’s first specialized quantum chip manufacturing facility. The company is establishing a new business focused on the effort that will receive the government investment.

Read more: https://www.wsj.com/tech/quantum-computing-grants-ibm-rigetti-globalfoundries-7382e6be?st=tja2dL&reflink=desktopwebshare_permalink

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There once was a time when the entire Republican Party would howl at the very thought of the government investing in commercial companies...

[Walleye]

1. I bet we won't hear a peep from Republicans about this

1 billion here and a billionaire pretend get away real money