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Update: US finalizes US$775 million in CHIPS quantum awards, with equity attached

Washington has converted the largest federal bet yet on quantum computing from a promise into a contract, and it is taking ownership in return. On Sept. 8, the US Department of Commerce announced the signing of final awards with five companies under the CHIPS and Science Act: up to US$375 million for GlobalFoundries and up to US$100 million each for Rigetti, D-Wave, PsiQuantum, and Quantinuum, according to five separate announcements posted by the National Institute of Standards and Technology. Together, the five deals commit US$775 million, and each carries a minority, non-controlling government equity stake as a condition of the money.