Mentioned:
IBM wants to build the future of quantum computing in America. And now, they’re advancing their plans to build a new leading edge facility in New York.
What’s happening:
- IBM (NYSE: IBM) has formally requested approval from the Dutchess County Industrial Development Agency for a 30 year payment-in-lieu-of-taxes deals to advance their $2.5B USD quantum computing facility in Poughkeepsie, New York
Why it matters:
- This is one of the largest proposed investments into a quantum computing facility in the United States of America
Going deeper:
- IBM’s new quantum computing facility is expected to be roughly 511,000 square feet and provide manufacturing and assembly for their Starling fault-tolerant quantum computer
- IBM previously made major waves on Wall Street when they publicly stated they are planning to invest more than $10B USD into quantum computing over the next five years
The intrigue:
- The United States Department of Commerce also previously notably gave IBM $1B USD in grant funding for a new quantum chip facility to mass produce quantum wafers and scale domestic quantum hardware manufacturing
