IBM · 10-Q · 2026Q3 · Full report
Quantum Computing Investment
INTERNATIONAL BUSINESS MACHINES CORP · 2026-10-22 · Importance 58 · Surprise 42 · In source text
IBM finalized a September 14, 2026 award agreement with the U.S. Department of Commerce under the CHIPS and Science Act providing up to $1.0 billion to accelerate quantum wafer manufacturing research and development. IBM contributed $1.0 billion of cash to its subsidiary Anderon, together with intellectual property and other assets. The Department received a minority equity interest in Anderon, while IBM retained controlling ownership and consolidated the subsidiary. The transaction created noncontrolling interests on IBM’s September 30, 2026 balance sheet and classified the Department’s equity-interest proceeds in financing activities.
Key facts
- IBM noted it invested more than $10 billion in quantum over the next five years, spanning R&D, capital expenditures, manufacturing scaling, mergers and acquisitions, and ecosystem expansion (announced in Q2 2026). source
- Anderon LLC, an IBM subsidiary, finalized an award agreement with the U.S. Department of Commerce on September 14, 2026 providing an incentive of up to an aggregate $1.0 billion under the CHIPS and Science Act to accelerate R&D of quantum wafer manufacturing capabilities. source
- IBM contributed $1.0 billion of cash into Anderon as part of the CHIPS award transaction. source
- IBM completed the agreement with the U.S. Department of Commerce providing a $1 billion CHIPS award to Anderon, an IBM subsidiary, to accelerate Anderons R&D efforts to advance the nations quantum wafer manufacturing capabilities. source
- The Department’s equity interest resulting from the Anderon transaction is presented as noncontrolling interests in IBM's Consolidated Balance Sheet and Statement of Equity at September 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -0.7% | IBM contributed $1.0 billion of cash into Anderon as part of the CHIPS award transaction. |
| assets | positive | realized | +0.7% | IBM contributed $1.0 billion of cash into Anderon as part of the CHIPS award transaction. |
| cash | positive | committed | +0.6% | IBM completed the agreement with the U.S. Department of Commerce providing a $1 billion CHIPS award to Anderon, an IBM subsidiary, to… |
| cash | positive | probable | +0.2% | Anderon LLC, an IBM subsidiary, finalized an award agreement with the U.S. Department of Commerce on September 14, 2026 providing an… |
| cash | negative | committed | — | IBM noted it invested more than $10 billion in quantum over the next five years, spanning R&D, capital expenditures, manufacturing… |
| operating_income | negative | committed | — | IBM noted it invested more than $10 billion in quantum over the next five years, spanning R&D, capital expenditures, manufacturing… |