By Eric Volkman
Publication Date: 2026-05-22 17:33:00
This is shaping up to be an eventful week for International Business Machines (IBM +1.89%). The storied tech company was announced as the major focus of a significant federal government initiative to develop quantum computing, and it’s pushing forward on several fronts in the field of artificial intelligence (AI)-powered cybersecurity.
Investors cheered these developments by bidding the stock up by nearly 17% week to date as of early afternoon Friday, according to data compiled by S&P Global Market Intelligence.
Federal funds
The more impactful of these two developments was the government program. On Thursday, it was announced that the Department of Commerce (DoC) was granting $2 billion to nine quantum computing companies, including IBM. In fact, IBM is the top recipient of this largesse, as it’s receiving $1 billion.
Image source: Getty Images.
That amount will be used to develop Anderon, a new company created by IBM to be this country’s first pure quantum chip foundry. IBM…
