Quantum computing (Nighthawk and Loon)
Nighthawk and Loon processors were unveiled in Nov 2025; IBM targets verified quantum advantage by the end of 2026.
What it is
IBM's superconducting quantum roadmap. Nighthawk is a 120-qubit processor with 218 tunable couplers, able to run circuits of up to 5,000 two-qubit gates. Loon is an experimental chip that shows the components needed for fault-tolerant computing. IBM has set a fault-tolerance target for 2029.
Why it matters to the stock. Quantum is a long-dated option with no revenue reported. The 2026 advantage target is the first public test of whether the roadmap is on schedule.
News
IBM advances to Stage C of DARPA's Quantum Benchmarking Initiative
IBM was selected for Stage C, the third phase of DARPA's Quantum Benchmarking Initiative.
IBM completes acquisition of HRL Laboratories
IBM completed its acquisition of HRL Laboratories on August 26, 2026, ahead of the end-of-third-quarter timing it had given in July.
IBM agrees to buy HRL Laboratories to expand its quantum hardware work
IBM agreed to acquire HRL Laboratories, a private research lab jointly owned by Boeing and General Motors, to add silicon-spin qubit, quantum sensing and quantum materials expertise.
IBM commits more than $10B to quantum computing over five years
IBM plans to invest more than $10B in quantum computing over five years, covering research, capital spending, manufacturing scale-up, ecosystem partnerships and acquisitions.
IBM and Commerce Department plan Anderon quantum wafer foundry with $1B CHIPS incentive
IBM and the U.S.
IBM and MIT launch MIT-IBM Computing Research Lab adding quantum research
IBM and MIT launched the MIT-IBM Computing Research Lab, which grows out of the MIT-IBM Watson AI Lab and adds quantum computing to its research agenda.
IBM and ETH Zurich launch 10-year initiative on AI and quantum algorithms
IBM and ETH Zurich agreed a 10-year initiative to develop algorithms that connect classical computing, machine learning and quantum systems.