Trump Administration Invests $2 Billion in Quantum Computing Trust

WHO:

Fast Company - Trump administration, quantum policy officials, industry leaders, Gregg Bartlett (chief technology officer at GlobalFoundries), Darío Gil (undersecretary for science in the U.S. Department of Energy), Victor Peng (CEO of PsiQuantum), Daniel Burrus (technology futurist).

WHAT:

Fast Company - The Trump administration announced a $2 billion investment across nine quantum-focused companies, including IBM and GlobalFoundries.

Fast Company - The goal is to build the first fault-tolerant quantum computer by 2028.

Fast Company - Investments in quantum startups reached $12.6 billion in 2025, a 6.3 times increase compared to 2024.

Fast Company - The Quantum Benchmarking Initiative has set a 2033 deadline for building an “industrially useful computer.”

WHERE:

Fast Company - The White House Quantum Summit took place in the Eisenhower Executive Office Building next to the West Wing.

WHEN:

Fast Company - The White House Quantum Summit was convened on July 7.

Fast Company - The deadline for delivering a quantum supercomputer is set for 2028.

WHY:

Fast Company - The U.S. aims to become the first nation to build a fault-tolerant quantum computer to solve problems that classical computers struggle with.

Fast Company - The urgency in Washington around strengthening American leadership in quantum computing has never been greater.

HOW:

Fast Company - The summit covered topics such as supply chain resilience and the need for a domestic semiconductor ecosystem.

Fast Company - The government plans to invest in quantum computing through letters of intent, which will transition into government contracts.

(UPDATED August 8, 2026 10:23 UTC)

The Trump administration has announced a significant $2 billion investment across nine quantum-focused companies, including major players like IBM and GlobalFoundries, with the ambitious goal of building the first fault-tolerant quantum computer by 2028. This announcement came during the White House Quantum Summit held in the Eisenhower Executive Office Building, where discussions also emphasized the urgency of strengthening American leadership in quantum computing and the need for a resilient domestic semiconductor ecosystem. Notably, investments in quantum startups surged to $12.6 billion in 2025, marking a dramatic increase compared to the previous year, as the Quantum Benchmarking Initiative sets a deadline for creating an “industrially useful computer” by 2033.