The Trump administration is taking equity stakes in four companies set to operate at a new quantum computing campus in Illinois, according to the Hyde Park Herald. The four firms will collectively receive $1.2 billion under a new federal investment program — an unusual arrangement in which the government becomes a partial owner of private technology companies rather than simply awarding grants or contracts.
The campus itself is planned for the site of the former South Works steel mill on Chicago's South Side, a sprawling industrial property that has sat largely vacant for decades. Redeveloping it around quantum technology represents one of the more ambitious bets on the emerging sector.
Quantum computing uses principles of quantum mechanics to process information in ways that conventional computers cannot, with potential applications in drug discovery, materials science, cryptography, and financial modeling. The technology remains largely pre-commercial, and most quantum hardware today requires extreme cooling and controlled environments.
The equity-stake model — rather than traditional grants — signals a shift in how the federal government may approach strategic technology investment, aligning its financial interests directly with the success or failure of the companies it backs.
If the campus succeeds, it could position the Chicago region as a hub for one of the most consequential computing technologies of the coming decades — and give American firms a lead in a race where China is also investing heavily.