IBM and Commerce Department plan Anderon quantum wafer foundry with $1B CHIPS incentive

IBM and the U.S. Department of Commerce announced a letter of intent for a proposed $1 billion CHIPS incentive to launch Anderon, a standalone quantum wafer foundry headquartered in Albany, New York. IBM will contribute $1 billion in cash plus intellectual property, assets and staff, and expects outside investors later. The foundry will start with 300mm wafers for superconducting qubits and their control electronics. The incentive was a proposal, pending binding agreements.

• Proposed $1B CHIPS incentive under a letter of intent
• IBM commits $1B cash plus intellectual property, assets and workforce
• Headquartered in Albany; 300mm quantum wafer foundry
• Starts with superconducting qubit wafers