Introduction
The U.S. government is making moves across multiple fronts to secure its technology future. Over the past few months, Washington has signed executive orders to accelerate quantum computing development, expanded its equity portfolio in semiconductor companies to $27 billion, and weighed new tariffs on foreign-made chips.
These aren’t isolated policy decisions. They’re part of a coordinated push to ensure American leadership in critical technologies—from quantum computing to advanced semiconductor manufacturing. The National Security Science and Technology Strategy, released in August 2026, lays out the framework: focus on areas where the U.S. has advantages, build resilience in supply chains, accelerate innovation, and protect intellectual property from foreign exploitation.
Here’s what’s happening across the key fronts of U.S. technology policy.
The Quantum Push: $2 Billion and Two Executive Orders
In June 2026, President Trump signed a pair of executive orders aimed at boosting quantum computing research and strengthening security against quantum-based threats. At a signing ceremony in the Oval Office, Trump said, “We’re going to be investing in American quantum leadership like never before to stay ahead of the pack. We’re way ahead right now. We’ll keep it that way.”
The first executive order calls for the development of a quantum computer powerful enough for scientific research. It also seeks to boost domestic supply chains for quantum infrastructure and materials while strengthening protections against potential threats to the quantum ecosystem.
The second order aims to speed up the migration to post-quantum cryptography—a method of protecting systems against quantum-based threats. The directive seeks to complete this process by 2030 or 2031. National Cyber Director Sean Cairncross explained the urgency: “As quantum rolls forward, it will challenge public key cryptography, which is what secures everything. It secures our financial transactions, our civilian critical infrastructure, and it secures the digital systems that Americans rely on for their daily life.”
$2 Billion in Quantum Investments
The executive orders build on a broader quantum investment push. In May 2026, the Commerce Department announced it would provide $2 billion in federal funding to nine quantum computing companies through the CHIPS Act—and take equity stakes in each of them. This represents a significant shift from the grant-based approach the CHIPS Act was originally designed for.
The biggest piece went to IBM, which received $1 billion to establish Anderon, a standalone quantum chip foundry in Albany, New York. The company is contributing an additional $1 billion in cash and intellectual property. The goal: deliver the world’s first large-scale, fault-tolerant quantum computer by 2029.
Like a venture capital firm building a diversified portfolio, the government is spreading bets across quantum modalities—superconducting, photonic, trapped ion, neutral atom, and silicon spin—rather than picking a single winner.
America’s first 300mm quantum wafer foundry
IBM’s Anderon project is particularly significant. The foundry will operate a state-of-the-art 300 mm quantum wafer facility and serve as the anchor for a national quantum ecosystem. Unlike traditional semiconductor fabs that produce hundreds of millions of chips, Anderon will be designed for the more specialized work of manufacturing quantum hardware, which can still be produced at a foundry.
The federal procurement timelines established by the executive orders provide concrete deadlines. The Quantum Computer for Application Development and Discovery Science (QC-ADDS) effort mandates the delivery of at least one research-grade quantum computer to a Department of Energy facility by 2028. Another directive requires federal agencies to migrate their high-value cryptographic assets to post-quantum cryptography by 2030 for key establishment and 2031 for digital signatures.
These deadlines matter for investors and companies because they guarantee a multi-year pipeline of public-sector demand. Anderon, for example, anchors a broader $10 billion, five-year quantum spending plan targeting the development of fault-tolerant hardware—specifically, the Quantum Starling system by 2029 and the Quantum Blue Jay system by 2033.
The CHIPS Act, Four Years Later
The CHIPS and Science Act, signed into law in 2022, has now been in effect for four years. The program is showing measurable results.
The full $39 billion in direct manufacturing subsidies has now been allocated, with 23 recipients receiving funding commitments and about $11 billion already paid out based on project milestones. Three subsidized advanced logic fabs have reached mass production:
- TSMC’s Arizona Fab 21 Phase 1 on 4nm
- Intel’s Ohio Module 1 on 18A
- Samsung’s Taylor, Texas Fab 1 on 3nm GAA
The U.S. share of advanced logic manufacturing has reportedly increased from about 12% in 2020 to roughly 22% in 2026. Another 12 subsidized wafer fab projects remain under construction, with production starts expected between late 2026 and 2029.
SK Hynix Breaks Ground in Indiana
In August 2026, SK Hynix broke ground on a more than $4 billion semiconductor advanced packaging facility in West Lafayette, Indiana. The investment, supported by up to $458 million in CHIPS Act direct funding and up to $500 million in federal loans, will establish the company’s first U.S. advanced packaging facility for next-generation high-bandwidth memory (HBM), a critical technology used to power artificial intelligence.
Senator Todd Young (R-Ind.), who helped author the CHIPS Act, attended the groundbreaking ceremony. “SK hynix’s historic investment in West Lafayette is further proof that Indiana is leading the way in rebuilding America’s semiconductor industry,” Young said. “This project will create good-paying jobs, strengthen our national and economic security, and ensure the technologies of the future are developed and manufactured here in the United States.”
The project is expected to create approximately 7,000 direct and indirect jobs through construction, operations, partner companies, and related industries.
The Cost Reality
While the CHIPS Act has helped move projects forward, the economics of U.S. manufacturing remain challenging. Building a fab in the U.S. can cost 30% to 50% more than a comparable facility in Taiwan. Operating costs can be 30% to 40% higher. Finished wafer costs may be 20% to 30% higher.
Labor shortages are also emerging as a constraint. A recent industry analysis projected that the U.S. could face a shortfall of about 127,000 to 157,000 semiconductor and microelectronics workers by 2030. That gap could delay billions of dollars in new fab construction and constrain future chip output.
The U.S. also continues to depend on imported ultrapure water systems, specialty gases, and chemicals—inputs that keep domestic production tied to global supply chains.
For procurement teams, the likely result is more geographic redundancy, not a replacement of Asian supply chains. U.S. capacity adds another supply option but doesn’t eliminate the need for Asian manufacturing relationships.
The Government’s $27 Billion Equity Portfolio
One of the most unusual developments in U.S. technology policy is the government’s growing equity portfolio. As of mid-2026, the federal government has taken equity stakes in roughly 30 companies worth about $27 billion.
It started with Intel in August 2025. The government took a roughly 10% stake in the company—about 433 million shares at roughly $20.47 each, valuing the government’s position at about $8.9 billion. By early 2026, that stake had grown significantly in value as Intel’s stock rose.
On July 29, 2026, the Commerce Department quietly announced it would designate more than $870 million in federal incentives for semiconductor manufacturing in exchange for minority equity stakes in seven more companies. The recipients include GlobalFoundries (up to $300 million), Kepler Computing (up to $245 million), Multibeam Corp. (up to $140 million), and equipment makers Extropic, Thintronics, Obsidia Semiconductors, and Aeluma.
The government’s approach has drawn criticism. Sen. Todd Young (R-Ind.), who helped draft the CHIPS Act, said the law never intended to let the federal government take major stakes in companies. The libertarian Cato Institute has argued the administration’s policy is “a deliberate attempt to shape corporate behavior and obtain leverage under the guise of bolstering domestic capacity.”
But the administration has defended the approach. Commerce Secretary Howard Lutnick has framed these as “strategic investments” that will “enhance our country’s domestic capabilities, create high-paying jobs and keep America at the forefront of the semiconductor industry.” The government receives minority, non-controlling equity stakes as a condition for funding, ensuring that “taxpayer dollars are protected and that the American people share in the upside.”
Potential Chip Tariffs
The administration is also weighing a new round of semiconductor tariffs. In early September 2026, Commerce Secretary Howard Lutnick said in a CNBC interview that the administration was working on a “targeted” and “thoughtful” semiconductor tariff policy. Companies manufacturing in the U.S. could receive tariff relief, while those producing elsewhere would pay to enter the U.S. market.
Chinese analysts have criticized the approach as a further escalation of industrial protectionism. Xiang Ligang, director-general of the Zhongguancun Modern Information Consumer Application Industry Technology Alliance, told the Global Times that the policy is “essentially industrial protectionism.” He warned that tariffs alone are unlikely to reshape the highly globalized semiconductor industry and could instead distort investment decisions and raise costs across the supply chain.
The policy builds on measures introduced earlier in 2026. Washington imposed a 25% tariff under Section 232 on a limited category of advanced computing chips and certain derivative products while exempting imports that support the U.S. technology supply chain.
Some reports suggest the administration is considering extending future tariffs beyond chips themselves to products containing semiconductors—potentially including laptops, gaming consoles, and data-center servers. Critics have warned that extending semiconductor duties to servers could make U.S. data centers more expensive to build.
The National Security Science and Technology Strategy
The National Security Science and Technology Strategy, released in August 2026, provides the framework for these various initiatives. The 24-page document organizes the U.S. approach around four pillars: Focused, Resilient, Agile, and Secure.
What’s at the Top of the List
The strategy establishes a clear hierarchy of priorities. At the very top are three areas where the U.S. needs “clear technological superiority”:
- Undersea superiority – submarines and anti-submarine warfare
- Space – from low Earth orbit to the area around the Moon
- Artificial intelligence and autonomy – here, the strategy calls for “competitive advantage” rather than decisive superiority, reflecting how fast the AI race is moving
Supporting these are “other critical areas”: airpower (stealth, electronic warfare, and air defense), long-range strike, and C5ISR (command, control, communications, computers, cyber, intelligence, surveillance, and reconnaissance).
And below those are the “key enabling technologies”: advanced manufacturing, hypersonics, nuclear energy, and semiconductors.
A Shift on Talent
One notable change: The strategy says the U.S. “will further strengthen its workforce by attracting and retaining top-tier global talent in critical national security S&T fields.” This is a departure from the previous National Security Strategy, which suggested that global talent “undercuts American workers.”
The strategy also calls for expanded STEM education, apprenticeships, scholarships, and stronger pathways for researchers to commercialize intellectual property.
Conclusion
The picture emerging across U.S. technology policy is one of deliberate, coordinated action. The White House strategy provides the framework. The CHIPS Act’s investments are beginning to show results in operating fabs and expanding capacity. The quantum executive orders and $2 billion in quantum investments are positioning the U.S. for the next wave of computing. The equity portfolio is unprecedented in its scale and ambition. And the potential chip tariffs reflect a willingness to use trade policy as a tool for industrial strategy.
What makes this moment different from previous technology waves is the scale of coordination—and the willingness to take equity stakes rather than just hand out subsidies. The U.S. is not simply funding research and hoping for the best. It is building the infrastructure—physical, intellectual, and institutional—to support technology leadership for decades to come.
The question is whether this strategy will succeed. The early signs suggest a deliberate, if challenging, effort to maintain American technological leadership in an era of intensifying global competition.
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