With only two commissioners in office - both Republicans, after President Donald Trump fired the Democratic members last year - the vote split 1-1. Chair Andrew Ferguson voted in favor of the settlement. Commissioner Mark Meador voted against it. The proposed settlement would have required IonQ to pledge not to disadvantage rivals that contract with SkyWater. Meador detailed his reasoning in a staff email dated July 22, writing, "I wasn't persuaded that the deal would harm competition or that the proposed remedy would be effective."
IonQ is a quantum computing company. SkyWater is a chip manufacturer. SkyWater runs the sole U.S. semiconductor foundry that manufactures chips entirely domestically, and it is one of the few producers of quantum hardware.
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Its chips go into quantum computing, defense and aerospace companies. IonQ announced the deal in January. Trump issued an executive order in June to speed up quantum research, a field that carries major national security consequences.
The company did not reply to inquiries regarding a possible settlement. An FTC representative refused to comment. Meador also did not reply to a request for comment.
The acquisition comes as quantum computing moves from theory to prototype, with companies like IonQ racing to build machines that could crack encryption and model molecules. SkyWater's exclusive U.S. manufacturing makes it a strategic asset in the trade war over advanced chips. The deadlocked FTC vote highlights the challenges of antitrust enforcement under a reduced commission.
The U.S. government has been pushing to onshore chip production after the CHIPS Act, and quantum chips are seen as the next frontier. IonQ's acquisition ensures that its supply chain remains under American control, a factor that likely influenced the FTC's reluctance to block the deal despite antitrust concerns.
Quantum computing's rapid development has drawn significant government attention. The CHIPS Act, passed in 2022, aimed to revitalize domestic chip fabrication, and IonQ's takeover of SkyWater fits directly into that initiative. As quantum machines inch closer to real-world use, securing a reliable U.S.-based supplier becomes paramount for both commercial and defense applications.
The acquisition gives IonQ control over a critical domestic chip supplier, potentially limiting access for competitors such as Rigetti or IBM in the quantum space. The FTC's proposed settlement would have required IonQ to pledge not to disadvantage rivals working with SkyWater. With that settlement deadlocked, no such pledge is in place, raising concerns among antitrust advocates. Still, the national security imperative of keeping quantum chip manufacturing on U.S. soil likely tempered any enforcement action.
The FTC's deadlock also underscores how a shrunken commission can tilt the balance in favor of strategic technology deals, with critics arguing such ties allow large acquisitions to proceed without meaningful oversight. The company's stock rose 4% in after-hours trading following the announcement, as investors view the deal as a step toward scaling quantum computers.
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