U.S. Government Backs D-Wave, Rigetti, And Quantinuum With $300 Million In CHIPS Act Funding
AI Summary
The U.S. government has awarded $300 million in CHIPS Act funding to D-Wave, Rigetti, and Quantinuum to advance quantum research and commercialization.
The U.S. Commerce Department has officially finalized funding agreements with three major quantum computing firms, committing up to $100 million each to D-Wave Quantum, Rigetti Computing, and Quantinuum. This capital is sourced from the CHIPS Act, a legislative effort aimed at bolstering domestic semiconductor and advanced technology capabilities.
The funding is specifically earmarked for research and development initiatives, as well as efforts to accelerate the commercialization of quantum hardware. Each company will receive its allocation over a multi-year period to ensure sustained progress in their respective technical roadmaps.
Rigetti Computing has noted that its portion of the funds will be utilized to overcome critical technical hurdles related to scaling quantum systems. This investment represents a significant commitment by the U.S. government to maintain a competitive edge in the global quantum race.
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