IBM pledges over $10 billion for quantum computer by 2029

International Business Machines announced a major five-year investment exceeding $10 billion to advance its quantum computing capabilities, with the goal of delivering the first large-scale, fault-tolerant quantum computer by 2029. The company disclosed the plan in a filing with the Securities and Exchange Commission on Thursday.

The investment is intended to fund research and development, capital expenditure, ecosystem partnerships, manufacturing scaling, and potential mergers and acquisitions. IBM stated the commitment further enhances its confidence in delivering the target system, which it has named Starling. The machine is designed to execute 100 million quantum operations using 200 logical qubits.

This financial commitment builds upon a recent agreement with the U.S. federal government to establish a dedicated quantum chip manufacturing facility, or foundry, in Albany, New York. The project involves $1 billion in proposed incentives from the federal CHIPS and Science Act, matched by a $1 billion cash investment from IBM. The company will also contribute intellectual property, assets, and personnel. The foundry will focus on producing 300-millimeter quantum wafers.