Three Elevate Quantum Consortium Members Receive $100M
In one of the largest federal validations the quantum industry has ever received, the U.S. Department of Commerce announced on May 22 that three Elevate Quantum members - Atom Computing, Infleqtion, and Quantinuum - will each receive $100 million as part of a $2 billion CHIPS-era incentive package, with the federal government taking a minority, noncontrolling equity position in each company in exchange.
The funding will accelerate domestic manufacturing, hardware development, and the path to utility-scale quantum systems.
"This federal investment from the Department of Commerce is a powerful validation of Colorado's status as a global epicenter in the quantum race," said Eve Lieberman, Executive Director of OEDIT. "By backing our homegrown companies, this funding will directly accelerate commercialization, attract more private capital to the Mountain West, and generate thousands of high-skill jobs for Coloradans."