India, May 27 -- Department of Commerce, USA, has announced the signing of nine letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act.

These funds will support a portfolio of quantum companies, including two domestic quantum foundry companies and 7 quantum computing companies to accelerate solving the most critical technology challenges in the race to develop utility scale, fault-tolerant quantum computers.

DoC's quantum incentives are designed to strengthen America's position in this critical frontier technology. Quantum computing has significant implications for national defense, advanced materials and biopharmaceutical discovery, financial modeling, and energy systems. A strong domestic qua...