IBM Shares Rise 5.7% Pre-Market, Plans $10 Billion Investment in Quantum Computing
On May 29, IBM saw a pre-market increase of 5.7%, reaching $279.4. The company announced plans to invest over $10 billion in the quantum computing sector over the next five years, further strengthening its position in this cutting-edge technology field. The goal is to build the world's first large-scale quantum computer capable of reliably and accurately executing complex computational tasks by 2029. To date, IBM has deployed more than 90 quantum computing systems, surpassing the total number of systems deployed by all other industry participants combined. Additionally, the U.S. Department of Commerce will provide $1 billion in funding through the incentives program associated with the CHIPS and Science Act, supporting IBM's new company, Anderon, to become the first pure-play quantum chip foundry in the United States.
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