09:38 AM EDT, 05/21/2026 (MT Newswires) -- (Updates with stock movement in the last paragraph.)

IBM ( IBM ) , GlobalFoundries ( GFS ) and D-Wave Quantum ( QBTS ) are among the companies set to receive billions in US government backing as the Trump administration ramps up efforts to boost the quantum computing industry.

IBM ( IBM ) and the US Commerce Department said they signed an LOI to launch Anderon, America's first pure play quantum chip foundry, backed by $1 billion in CHIPS incentives and another $1 billion from IBM ( IBM ).

The proposed awards are not final and remain subject to definitive agreements, diligence, regulatory or internal approvals, and milestone requirements, according to the companies and a The Wall Street Journal report.

GlobalFoundries ( GFS ) plans to build a domestic quantum manufacturing ecosystem with $375 million in proposed funding, while D-Wave and Infleqtion ( INFQ ) also signed LOIs for proposed $100 million awards under the CHIPS and Science Act, according to separate statements.

The investments aim to accelerate quantum hardware development, expand US-based manufacturing, create high-paying jobs and strengthen national security as Washington races to scale next-generation computing technologies, they said.

Rigetti Computing ( RGTI ) said it has signed a letter of intent with the Commerce Department for up to $100 million in funding over three years.

The Wall Street Journal report said the total package is worth $2 billion.

Shares of IBM ( IBM ), GlobalFoundries ( GFS ), D-Wave Quantum ( QBTS ), Infleqtion ( INFQ ) and Rigetti Computing ( RGTI ) were up 4.3%, 10.3%, 19.5%, 35% and 19.7% respectively in premarket activity.