IBM’s Anderon subsidiary has signed an agreement with the U.S. Commerce Department for up to $1 billion in research and development support under the CHIPS and Science Act. IBM plans to invest an equal amount, bringing combined government and private funding to $2 billion. Anderon operates as a pure-play quantum foundry, manufacturing 300-millimeter wafers for superconducting qubit arrays and quantum input/output components at its Albany, New York, facility. The company aims to serve IBM as well as external quantum developers and research institutions, and plans eventually to support architectures beyond superconducting systems. Anderon has begun processing its first quantum wafers, although that does not represent commercial volume production. IBM is targeting large-scale, fault-tolerant quantum computers by 2029 and plans to invest more than $10 billion in quantum computing over five years. IBM shares fell approximately 2% in after-hours trading on September 16 from a previous close of $248.37. TipRanks showed a Moderate Buy consensus from 19 ratings and an average price target of $254.95.