New Delhi, May 26 -- The U.S. Department of Commerce has made one of its most significant moves yet in the global quantum technology race, signing letters of intent with nine companies for $2.013 billion in proposed federal incentives under the CHIPS and Science Act. The funding is designed to accelerate U.S. leadership in utility-scale, fault-tolerant quantum computing and strengthen the country's domestic quantum manufacturing base.

The companies named in the announcement are IBM, GlobalFoundries, Atom Computing, Diraq, D-Wave, Infleqtion, PsiQuantum, Quantinuum and Rigetti. The funding covers two major tracks: quantum foundry infrastructure and quantum computing technology development. IBM and GlobalFoundries are expected to support d...