TLDR
- IBM surged over 11% Thursday after the US Commerce Department announced a $2 billion CHIPS Act program for domestic quantum computing firms
- IBM secured the largest single allocation — a $1 billion government grant — to build “Anderon,” billed as America’s first dedicated quantum chip manufacturing foundry
- IBM will match the $1 billion grant with its own capital; the facility will be built in Albany, New York
- The rally added roughly $26 billion to IBM’s market cap, pushing it to approximately $237.8 billion
- Wall Street analysts responded positively, with Evercore ISI pointing to IBM’s growing quantum book of business and its vertically integrated quantum strategy
IBM surged more than 11% on Thursday after the US Department of Commerce announced a $2 billion CHIPS and Science Act program to fund domestic quantum computing companies.
International Business Machines Corporation, IBM
IBM stock was trading around $253.84 by close on Friday, up roughly 17% for the week.
The rally added about $26 billion to IBM’s market cap, lifting it to approximately $237.8 billion. The stock added a further 3% in premarket trading on Friday.
IBM landed the single largest allocation in the program — a $1 billion government grant. The company will match that with $1 billion of its own capital.
The combined $2 billion will be used to build “Anderon,” a new company and facility in Albany, New York. It’s being positioned as the first pure-play, dedicated 300mm quantum chip manufacturing foundry in the United States.
The Department of Commerce will also take a small minority stake in Anderon, though the exact size has not been disclosed.
Commerce Secretary Howard Lutnick was quoted saying the investments “will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.”
The total $2 billion was spread across nine quantum computing companies, but IBM was the clear standout recipient.
What Wall Street Is Saying
Analyst Amit Daryanani at Evercore ISI called the news a positive for IBM and said it should “reflect confidence in their quantum roadmap.”
He noted IBM already has a quantum book of business worth more than $1 billion in total signings since inception, and that it’s growing each quarter.
Daryanani also highlighted IBM’s vertically integrated approach — covering processors, cryogenic systems, software through its Qiskit platform, and real-world partnerships.
IBM has projected that quantum computing could generate $850 billion in economic value globally by 2040.
IBM’s AI Security Push
Separately, IBM also made moves in AI-powered cybersecurity this week. The company announced a high-profile AI developer joined Project Glasswing, its cybersecurity industry consortium.
It also launched IBM Autonomous Security, a new multi-agent AI service aimed at strengthening its security product line.
Those developments added another layer to an already busy week for the company.
One thing worth keeping in mind: Anderon still has to be built. Revenue from quantum operations remains years away, and the foundry is still in early stages.
IBM’s 52-week range sits between $212.34 and $324.90, with the stock now trading near the middle of that band following this week’s move.
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