University of Chicago secures quantum computing funding from IBM and Google.

The University of Chicago has partnered with IBM and Google to develop quantum-centric supercomputers and advance quantum technology. IBM will invest $100 million to develop a 100,000-qubit system by 2033, while Google will invest up to $50 million to accelerate the development of a fault-tolerant quantum computer and train the quantum workforce of the future. The University of Chicago will work with both companies to advance the underlying technologies of such systems and design and build the necessary components at scale. The partnerships will build upon the Chicago area's strengths in quantum science and engineering.