Letters of intention that moves the market

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One week after visiting China, the US department of commerce signs letters of intent for $2B in the Quantum Computing companies.

And the winners are:

  • IBM ($1 billion)
  • GlobalFoundries ($375 million)
  • Atom Computing ($100 million)
  • D-Wave Quantum ($100 million)
  • Infleqtion ($100 million)
  • Quantinuum ($100 million)
  • Rigetti Computing ($100 million)
  • PsiQuantum ($100 million)
  • Diraq (Up to $38 million)

IONQ is not in the list, why?….

I guess due to these reasons:

  1. IonQ is Already Well-Capitalized.
  2. A major condition of this $2 billion funding package is that the U.S. government is taking minority,
  3. For the trapped-ion modality (which IonQ uses), the Department of Commerce chose to award Quantinuum.

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