12:26 PM EDT, 06/18/2024 (MT Newswires) -- International Business Machines ( IBM ) and Discover Financial Services ( DFS ) are set to work as part of a consortium that Illinois Governor J.B. Pritzker enlisted to help secure federal funding for quantum technology initiatives, Bloomberg News reported Tuesday.

The consortium also includes Boston Consulting Group and nonprofit group P33, with an initial project of developing quantum tools that will be used in fighting financial fraud, Bloomberg said. According to the report, the initiative is part of Pritzker's plan to win $70 million in funding under US President Joe Biden's Tech Hubs program.

Pritzker's office, IBM ( IBM ), Discover, and Boston Consulting did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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