IBM plans over $10B quantum investment by 2029

International Business Machines Corporation is outlining plans to invest more than $10B over the next five years to expand its quantum computing capabilities.

Rhea-AI Filing Summary

International Business Machines Corporation is outlining plans to invest more than $10B over the next five years to expand its quantum computing capabilities. The company aims to support R&D, capital spending, ecosystem partnerships, manufacturing scale-up and M&A, with a goal of delivering the first large-scale fault-tolerant quantum computer by 2029.

IBM notes it has deployed over 90 quantum systems and built a global network of more than 325 companies, startups, universities and government agencies using its quantum computers for scientific work. The investment follows a Letter of Intent with the U.S. Department of Commerce to build an American quantum chip foundry to accelerate domestic quantum innovation.

Positive

• IBM plans to invest more than $10B in quantum over five years, indicating a sizable, long-term commitment to building leadership in quantum computing infrastructure, ecosystem development and potential acquisitions.
• Targeting the first large-scale fault-tolerant quantum computer by 2029 provides a clear technology milestone that, if achieved, could strengthen IBM’s competitive position in advanced computing.
• Existing deployment of over 90 quantum systems and more than 325 ecosystem partners shows that IBM’s quantum platform already has meaningful scale and real-world engagement across enterprises, academia and government.

Negative

• None.

Insights

Technology sector analyst

IBM commits over $10B to quantum over five years, targeting a fault-tolerant system by 2029.

IBM is signaling a major long-term push in quantum computing with a planned investment of more than $10B over the next five years. Spending will span research, capital projects, ecosystem partnerships, manufacturing scale-up and potential acquisitions to support its quantum roadmap.

The company already operates over 90 quantum systems and reports a user base of more than 325 organizations, including large enterprises, startups, universities and government agencies exploring applications in chemistry, biology and materials science. This existing footprint provides a base for further adoption if the technology matures as planned.

IBM’s stated objective is to deliver the first large-scale fault-tolerant quantum computer by 2029, and it has signed a Letter of Intent with the U.S. Department of Commerce to develop an American quantum chip foundry. Actual financial impact will depend on execution, demand for quantum services and future disclosures on project milestones and spending pace.

8-K Event Classification

Item 7.01 — Regulation FD Disclosure

1 item

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Key Figures

Planned quantum investment: more than $10B Quantum systems deployed: over 90 systems Quantum ecosystem participants: more than 325 organizations +2 more

5 metrics

Planned quantum investment more than $10B Over the next 5 years to advance IBM’s quantum leadership

Quantum systems deployed over 90 systems IBM’s global quantum computer fleet already in use

Quantum ecosystem participants more than 325 organizations Fortune 500 companies, startups, universities and government agencies

Fault-tolerant quantum target date 2029 IBM’s goal for first large-scale fault-tolerant quantum computer

Quantum chip foundry LOI Letter of Intent signed With U.S. Department of Commerce for American quantum chip foundry

Key Terms

Regulation FD Disclosure, fault-tolerant quantum computer, Letter of Intent, quantum chip foundry, +1 more

5 terms

Regulation FD Disclosure regulatory

"Item 7.01. Regulation FD Disclosure."

Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.

fault-tolerant quantum computer technical

"delivering the first large-scale fault-tolerant quantum computer by 2029."

A fault-tolerant quantum computer is a type of quantum machine designed to keep working correctly even when its basic parts make mistakes, by detecting and fixing errors while it runs. Think of it like a ship with self-repairing systems so it can complete long voyages without breaking down; for investors, achieving fault tolerance is the milestone that could turn experimental quantum devices into reliable tools that accelerate complex calculations, create new products, and disrupt industries — but it also requires major technical and capital investment.

Letter of Intent regulatory

"follows last week’s Letter of Intent between IBM and the Department of Commerce"

A letter of intent is a document that shows an agreement in principle between parties to work towards a future deal or transaction. It outlines their intentions and key terms, acting like a roadmap before a formal contract is signed. For investors, it signals serious interest and helps clarify expectations early in the process.

quantum chip foundry technical

"to build an American quantum chip foundry (Anderon) to accelerate American quantum innovation."

forward-looking regulatory

"Certain statements contained in this may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995."

Forward-looking describes statements, estimates or projections about a company’s future performance, plans or expectations rather than past results. Like a weather forecast for a business, these predictions help investors form expectations and decide whether to buy, hold or sell, but they are not guarantees and can change if conditions differ from assumptions. Investors use them to gauge management’s strategy and potential risks and rewards.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What quantum investment did IBM (IBM) outline in this 8-K?

IBM plans to invest more than $10 billion in quantum computing over the next five years. The spending will support R&D, capital projects, ecosystem partnerships, manufacturing scale-up and M&A as IBM pursues its long-term quantum roadmap.

What is IBM’s timeline for a fault-tolerant quantum computer?

IBM states it aims to deliver the first large-scale fault-tolerant quantum computer by 2029. This goal anchors its multi-year quantum investment plan and reflects management’s confidence in scaling the technology to more practical, error-corrected systems.

How many quantum systems has IBM deployed so far?

IBM reports it has deployed over 90 quantum systems. These systems support a global user base that includes enterprises, startups, universities and government agencies carrying out research and experimentation across chemistry, biology, materials science and other fields.

How large is IBM’s current quantum ecosystem of clients and partners?

IBM says its quantum ecosystem includes more than 325 organizations, spanning Fortune 500 companies, startups, universities and government agencies. These partners access IBM’s global quantum fleet to explore scientific and potential commercial applications of quantum computing.

What is the IBM and U.S. Department of Commerce quantum chip foundry plan?

IBM references a recent Letter of Intent with the U.S. Department of Commerce to build an American quantum chip foundry. The initiative is intended to accelerate American quantum innovation and complements IBM’s broader multi-year quantum investment strategy.

Does IBM describe these quantum statements as forward-looking?

Yes. IBM characterizes certain quantum-related statements as forward-looking under the Private Securities Litigation Reform Act of 1995 and notes that various factors could cause actual results to differ materially, referencing its other U.S. SEC disclosures for additional risk information.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/28/2026 - 06:49 AM EDT Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: May 28, 2026

(Date of earliest event reported)

INTERNATIONAL BUSINESS MACHINES CORPORATION

(Exact name of registrant as specified in its charter)

New York

1-2360

13-0871985

(State of Incorporation)

(Commission File Number)

(IRS employer Identification No.)

One New Orchard Road Armonk, New York									10504
(Address of principal executive offices)									(Zip Code)

914-499-1900

(Registrant’s telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Capital stock, par value $.20 per share

IBM

New York Stock Exchange

NYSE Texas

0.300% Notes due 2026

IBM 26B

New York Stock Exchange

1.250% Notes due 2027

IBM 27B

New York Stock Exchange

3.375% Notes due 2027

IBM 27F

New York Stock Exchange

0.300% Notes due 2028

IBM 28B

New York Stock Exchange

1.750% Notes due 2028

IBM 28A

New York Stock Exchange

1.500% Notes due 2029

IBM 29

New York Stock Exchange

0.875% Notes due 2030

IBM 30A

New York Stock Exchange

2.900% Notes due 2030

IBM 30C

New York Stock Exchange

1.750% Notes due 2031

IBM 31

New York Stock Exchange

3.000% Notes due 2031

IBM 31A

New York Stock Exchange

3.625% Notes due 2031

IBM 31B

New York Stock Exchange

0.650% Notes due 2032

IBM 32A

New York Stock Exchange

3.150% Notes due 2033

IBM 33A

New York Stock Exchange

3.450% Notes due 2034

IBM 34A

New York Stock Exchange

1.250% Notes due 2034

IBM 34

New York Stock Exchange

3.750% Notes due 2035

IBM 35

New York Stock Exchange

3.450% Notes due 2037

IBM 37

New York Stock Exchange

3.850% Notes due 2038

IBM 38B

New York Stock Exchange

4.875% Notes due 2038

IBM 38

New York Stock Exchange

1.200% Notes due 2040

IBM 40

New York Stock Exchange

4.000% Notes due 2043

IBM 43

New York Stock Exchange

3.800% Notes due 2045

IBM 45A

New York Stock Exchange

Floating Rate Notes due 2028

IBM 28E

New York Stock Exchange

6.22% Debentures due 2027

IBM 27

New York Stock Exchange

6.50% Debentures due 2028

IBM 28

New York Stock Exchange

5.875% Debentures due 2032

IBM 32D

New York Stock Exchange

7.00% Debentures due 2045

IBM 45

New York Stock Exchange

7.125% Debentures due 2096

IBM 96

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD Disclosure.

The information in this Item 7.01 is being furnished with the Commission and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, and includes the following information to be provided by senior management at investor meetings on May 28, 2026:

•Over the next 5 years IBM plans to invest more than $10B to advance our leadership position in quantum, including in R&D, capex, ecosystem partnerships, manufacturing scaling, and M&A, which further enhances our confidence in delivering the first large-scale fault-tolerant quantum computer by 2029.

•To date, IBM has deployed over 90 quantum systems, including more quantum computers than reported by all other industry players combined. The company has also built a global client and partner ecosystem spanning more than 325 Fortune 500 companies, startups, universities, and government agencies already using IBM’s global fleet of quantum computers to tackle scientific challenges across chemistry, biology, materials science, and more.

•This $10B investment announcement follows last week’s Letter of Intent between IBM and the Department of Commerce to build an American quantum chip foundry (Anderon) to accelerate American quantum innovation.

Forward-Looking Statements

Certain statements contained in this Form 8-K may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. These statements involve a number of factors that could cause actual results to differ materially. Additional information concerning these factors is contained in the company’s filings with the U.S. Securities and Exchange Commission (SEC). Copies are available from the SEC or from the IBM web site (www.ibm.com).

IBM’s web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Date: May 28, 2026
			By:			/s/ Nicolás A. Fehring
						Nicolás A. Fehring
						Vice President and Controller

3

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