The U.S. administration is launching a roughly $2 billion investment program for quantum technology. The funding will go to nine companies working on quantum computing, chips and related infrastructure. Unlike traditional grants, the government will take minority equity stakes in the recipients, turning the program into a more direct strategic investment.

The largest package is expected to go to IBM, which is set to receive about $1 billion to help build a quantum chip foundry. GlobalFoundries is expected to receive $375 million, while companies including D-Wave, Rigetti, Infleqtion, Atom Computing, PsiQuantum and Quantinuum are set to receive around $100 million each. Diraq is expected to receive about $38 million.

For Washington, this is both a technology policy and a national-security move. Quantum computers are still far from broad commercial use, but they could eventually reshape cryptography, materials research, drug discovery, finance and defense systems. The U.S. wants to secure the manufacturing base early and reduce dependence on foreign suppliers.

The larger backdrop is competition with China. CSIS has noted that China’s announced public investment in quantum technologies has significantly exceeded U.S. levels. The new program is designed to narrow that gap and accelerate a domestic supply chain for quantum chips.