U.S. Department of Commerce to Invest $2 Billion in Quantum Computing Companies on June 13

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According to CoinDesk, the U.S. Department of Commerce signed a memorandum of understanding on June 13 to invest over $2 billion in nine quantum computing companies to develop quantum infrastructure. IBM will receive $1 billion to build quantum wafer fabrication facilities, GlobalFoundries will receive $375 million, and the remaining funds will be allocated to seven quantum hardware companies. The infrastructure is intended to support quantum computers capable of breaking Bitcoin, Ethereum, and mainstream internet encryption systems.
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