IBM to invest $10 billion in quantum over 5 years

IBM said it will invest $10 billion over the next five years in quantum computing.

The investment will cover R&D, capex, ecosystem partnerships, manufacturing scaling and mergers and acquisitions.

IBM disclosed the investment in an SEC filing. The company said that the investment will be used to deliver the first "large-scale fault-tolerant quantum computer by 2029."

The news comes as the US government invested $1 billion in IBM's quantum business. Big Blue said it will launch a quantum chip foundry. IBM has deployed over 90 quantum systems.

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In addition to the quantum investment, IBM said it will invest $5 billion with its Red Hat unit to secure open source AI applications. IBM and Red hat launched Project Lightwell, which is designed to "establish a trusted enterprise clearinghouse combined with a global force of engineers to identify and fix vulnerabilities at scale."

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