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00:03The U.S. government plans to award $2 billion in grants to nine quantum computing firms,
00:08taking equity stakes in each company, according to CNBC. IBM is the largest recipient,
00:14set to receive $1 billion from the U.S. Commerce Department. IBM confirmed it will use the funding
00:20to build America's first purpose-built quantum foundry through a new standalone company called
00:24Anderon, headquartered in Albany, New York. IBM will contribute a matching $1 billion investment.
00:31Chipmaker Global Foundries will receive $375 million. D-Wave Quantum, Regetti Computing,
00:38and Inflection are each expected to receive $100 million, while startup Dirac is set to receive
00:44$38 million. Funding comes from the 2022 Chips and Science Act. The deals must still be formally
00:51completed. For all things money, visit Benzinga.com.
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