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IBM Boasts Quantum Advantage, $1T Value, $2B Foundry

7/31/2026

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Summary

Story summary

On June 30, IBM, Qedma and Algorithmiq announced IBM’s quantum advantage, saying a quantum computer solved tasks faster than classical systems.
CEO Arvind Krishna said quantum computing could affect IBM’s revenue and profit by 2028-2029 and could generate about $1 trillion of value by the 2030s.
IBM will build a chip foundry funded with $1 billion from the U.S. Department of Commerce’s CHIPS program and $1 billion of its own investment.

History

Historical Context

IBM’s Deep Blue defeated world champion Garry Kasparov in a six-game 1997 match, winning 3½–2½ and earning a $700,000 prize, marking the first tournament loss of a reigning chess champion to a computer. The victory showcased IBM’s parallel-processing expertise, a legacy the company cites while developing its quantum-advantage chip to extend similar disruptive impact to next-generation technology.

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Story summary

On June 30, IBM, Qedma and Algorithmiq announced IBM’s quantum advantage, saying a quantum computer solved tasks faster than classical systems.
CEO Arvind Krishna said quantum computing could affect IBM’s revenue and profit by 2028-2029 and could generate about $1 trillion of value by the 2030s.
IBM will build a chip foundry funded with $1 billion from the U.S. Department of Commerce’s CHIPS program and $1 billion of its own investment.

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