IBM to Build Quantum Chip FoundryIBM and U.S. Department of Commerce Announce Americaâs First Purpose-Built Quantum Foundry, Supported by Proposed $1 Billion CHIPS AwardPowered by IBMâs decades-long quantum leadership, initiative will accelerate American quantum innovation and enable advanced quantum wafer production for a broad range of companiesIBM and the U.S. Department of Commerce announced a Letter of Intent to build an American quantum chip foundry, securing the nationâs global quantum leadership and fueling the countryâs growing quantum ecosystem. The CHIPS incentive from the DoC will support the research and development efforts of a new IBM company: Anderon, which will be America's first pure-play quantum foundry. This initiative represents one of the most significant commitments by the U.S. Government to date in quantum R&D to position the United States to manufacture most of the worldâs quantum wafers. In addition to the $1 billion in CHIPS incentives provided by the DoC, IBM will contribute $1 billion of cash into Anderon, along with IBM investing significant intellectual property, assets, and a skilled workforce, with additional investors expected as Anderon grows. Headquartered in Albany, New York as a standalone company, Anderon will operate as a state-of-the-art 300-millimeter quantum wafer foundry. It will help the nation solidify its leadership at the center of a thriving new quantum industry that is estimated to generate up to $850 billion in economic value by 2040 and spur American economic growth while also bolstering national security. IBMâs mission to bring market-leading quantum computing to the world remains unchanged. The LOI with the DoC reflects IBMâs global leadership in quantum computing and world-class wafer fabrication expertise. IBM has already developed and tested scalable quantum wafer technology, offering a clear pathway to commercialization. As a pure-play quantum foundry, Anderon plans to tap IBM's strength in building and deploying quantum computers to