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Barchart
Wajeeh Khan

A $1 Billion Reason Why IBM Stock Is Up Today

IBM Anderon

International Business Machines (IBM) has secured a landmark $1 billion federal award from the U.S. Department of Commerce under the CHIPS and Science Act. The deal finalized non-dilutive funding to accelerate quantum wafer manufacturing at Anderon, a dedicated quantum foundry company spun out by IBM.

At the time of writing, IBM shares are down about 17% versus the start of this year.

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