The U.S. government is expanding its investment in quantum computing with over $2 billion in planned CHIPS-related incentives for major tech companies.

The Department of Commerce has signed letters of intent with nine firms, including IBM, D-Wave, Rigetti Computing, and others, to support development of quantum hardware and domestic manufacturing capacity.

The funding includes major allocations such as $1 billion for IBM’s quantum foundry and hundreds of millions more for companies working on different quantum architectures.

Officials say the initiative is aimed at strengthening U.S. technological leadership and has growing national security implications, Crypto Prowl has reported.

The move also highlights concerns that future quantum computers could eventually threaten current encryption systems used in cryptocurrencies and other digital infrastructure.