NEW YORK, May 22, 2026, 04:19 (EDT)
- IBM jumped 12.4% Thursday, ending the session at $252.97. Trading volume was more than five times what it was on Wednesday.
- The U.S. is focusing its plan on Anderon, a new IBM quantum-chip foundry that’s set to get proposed CHIPS funding.
- Investors still see execution risk. The award depends on final documents, and quantum computing is still tough from a technical standpoint.
IBM shares jumped Thursday, gaining after the company and the U.S. Commerce Department said they plan a $1 billion award for a new quantum-chip foundry. The stock ended the day at $252.97, up from $225.00, with 25.5 million shares changing hands, according to IBM historical data.
Washington’s action is about timing. The U.S. is moving past grants and putting money directly into a group of quantum-computing firms, trying to cut reliance on foreign tech supply. According to FedScoop, the Commerce Department signed letters of intent totaling around $2 billion for nine companies, taking non-controlling equity stakes with each deal.
IBM is seeing the story shift after a tough stretch. Shares dropped in April when first-quarter revenue growth lost steam, with investors concerned AI tools might squeeze its software segment, especially tasks where software already does much of the work. CFRA analyst Brooks Idlet told Reuters the numbers didn’t support those fears at the time, but market caution stayed.
Anderon, the new company, will be set up in Albany, New York, and run a 300-millimeter quantum wafer foundry supplying IBM and other customers. Quantum computers use qubits instead of traditional bits, which can only be 1 or 0. Qubits can handle more than one state at a time, which could help solve complex problems in fields like materials science, drug discovery, and finance.
IBM plans to invest $1 billion in cash in Anderon, adding in intellectual property, some assets and staff. Commerce funding is set to back research and development. Commerce Secretary Howard Lutnick said these moves are expected to bring “thousands of high-paying American jobs.” IBM CEO Arvind Krishna said Anderon could “fuel America’s fast-growing quantum technology industry.” IBM Newsroom
Krishna told Reuters the foundry plans to offer IBM’s chipmaking tech to external clients, saying customers will get “the exact same capability that we have for ourselves.” Infleqtion CEO Matthew Kinsella said the investment shows quantum computing is “coming much faster than anybody thinks,” according to Reuters. Reuters
Peer stocks moved after the news. GlobalFoundries said it’s launching Quantum Technology Solutions and signed a letter of intent for a proposed $375 million award, which would give the Commerce Department about 1% ownership in the chipmaker. Chief technology officer Gregg Bartlett said “Quantum is at its inflection point.” The company said it plans to work with several quantum hardware approaches. GlobalFoundries
D-Wave and Rigetti were on the list of quantum companies in the U.S. plan, sticking to a tight but key competition. IBM brings size and a strong balance sheet. Smaller pure-play quantum companies give investors a way to play the theme with more risk. IBM landed at the heart of a bigger quantum rally for the day, not just its own stock moving up.
Dow climbed 0.55% Thursday, helped by IBM, according to Trading Economics. The S&P 500 rose 0.17%, and the Nasdaq gained 0.09%. IBM’s strength moved not just its own shares but also pushed the price-weighted Dow more than some investors might expect because of its high price in the index.
The risks are clear. IBM said the Anderon launch still depends on final contract talks, and Reuters pointed out quantum computing is held back by technical barriers like high error rates that drag on real-world performance. Slower deal talks, less interest in the foundry, or if quantum stocks back off, Thursday’s move could unwind fast.
U.S. stocks will trade regular hours Friday, with markets closing for Memorial Day on Monday, May 25, according to the NYSE holiday calendar. IBM investors are watching to see if Anderon gets traction as a real manufacturing story or just more quantum talk heading into a long weekend.
