GlobalFoundries has signed a letter of intent with the US Department of Commerce for up to $375 million in CHIPS Act funding to develop quantum technologies and silicon photonics. The company will create a platform called Quantum Technology Solutions dedicated to domestic manufacturing of quantum processor units and their components, covering multiple qubit technologies including silicon photonics, superconducting, and trapped ion approaches. The Commerce Department plans to take a strategic minority equity stake of roughly 1 percent in GlobalFoundries as part of the arrangement. The platform will be developed in partnership with PsiQuantum, Quantinuum, Diraq, Equal1 and Microsoft Quantum. This initiative reflects the broader US strategy to treat quantum computing as a national priority, particularly given the national security implications of quantum computers potentially cracking encryption standards protecting banking transactions and military communications.
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