US Commerce Dept. Announces LOI with 9 Companies for $2B to Accelerate US Leadership in Quantum Computing
WASHINGTON, May 21, 2026 — The Department of Commerce today announced the signing of 9 letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act. These funds will support a portfolio of quantum companies, including two domestic quantum foundry companies and 7 quantum computing companies to accelerate solving the most […] The post US Commerce Dept. Announces LOI with 9 Companies for $2B to Accelerate US Leadership in Quantum Computing appeared first on HPCwire .
The US is proactively investing in quantum computing to establish early leadership and counter emerging global competition, leveraging funds from the CHIPS and Science Act.
This significant government funding accelerates the foundational technologies for future computation, which will have profound implications for national security and economic competitiveness.
The financial landscape for quantum computing companies in the US is significantly improved, fast-tracking the development and commercialization of quantum technologies.
- · US Quantum Computing Companies
- · US Department of Commerce
- · Semiconductor Industry
- · Research Institutions
- · Non-US Quantum Competitors (relatively)
- · Traditional High-Performance Computing
Increased R&D and talent acquisition within the US quantum computing sector.
Potential for early breakthroughs in quantum algorithms impacting cryptography, materials science, and drug discovery.
Accelerated development of a domestic quantum supply chain reducing reliance on foreign technologies for critical computing infrastructure.
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