IBM’s Quantum Foundry Unit Receives $1B In CHIPS Funding

By Mark LaPedus

Anderon LLC, IBM’s new quantum foundry subsidiary, has announced the finalization of a $1 billion award under the CHIPS and Science Act with the U.S. Department of Commerce.

Anderon has also introduced its new leadership team. Mukesh Khare, general manager and vice president of IBM Semiconductors, has been named the new chief executive of Anderon. Jason Orcutt, senior manager and principal research scientist at IBM, is the new chief technology officer at Anderon.

Based in Albany, N.Y., Anderon is positioned as a new foundry vendor in the quantum industry. The new funding award will accelerate Anderon’s R&D efforts to advance quantum wafer manufacturing in the United States.

U.S. quantum program

Anderon was formed in May 2026, as part of a larger announcement in the quantum computing field. At that time, the U.S. Department of Commerce announced plans to bolster the quantum computing industry in the U.S.

To do so, the U.S. government agency signed nine letters of intent to provide $2.013 billion in federal incentives under the CHIPS and Science Act. As part of the announcement, seven U.S.-based quantum computing companies would receive funding from the U.S. government.