News about Zohran Mamdani

New York City Mayor Zohran Mamdani said the city will receive 15% of intellectual property proceeds from the Quantum Fabrication Facility (QFab) being built by New York University (NYU) in Manhattan, along with three seats on the project's Executive Advisory Board. NYU is contributing $255 million of the $284 million total, while the city will award $29.2 million, and the lab is expected to open in 2030. A city statement estimates quantum technology could generate up to $2.7 trillion in economic value by 2035. The article also notes the Trump administration has made government equity stakes a recurring tool, holding 9.9% of Intel Corp. and committing $2 billion to nine quantum computing companies in exchange for equity stakes.