Anderon, an IBM Company, Finalizes Agreement with the U.S. Department of Commerce for a $1 Billion CHIPS Award to Accelerate R&D for U.S.-Based Pure-Play Quantum Foundry

ALBANY, N.Y. -- an IBM (NYSE: IBM) company, announced the finalization of a $1 billion award under the CHIPS and Science Act with the U.S. Department of Commerce (the "Department"). The award will accelerate Anderon's R&D efforts to advance the nation's quantum wafer manufacturing capabilities.

Announced in May under a letter of intent between the Department and IBM, Anderon operates a state-of-the-art 300-millimeter pure-play quantum wafer foundry, backed by an additional $1 billion investment from IBM. Headquartered in Albany, New York, the new venture serves the quantum industry as a pure-play foundry, offering quantum wafer manufacturing to customers across the ecosystem.