ANI
07 Oct 2022, 03:48 GMT+10
New York [US], October 7 (ANI): Arvind Krishna, chief executive officer of International Business Machines (IBM) on Thursday (local time) announced a USD 20-billion investment in quantum computing, semiconductor manufacturing and other high-tech areas in its New York state facilities.
"We are proud to announce that IBM is pledging to invest $20 billion across the region," the IBM CEO while addressing workers said at the Poughkeepsie, New York plant. He was joined by US President Joe Biden at the event.
"This investment includes breakthroughs in semiconductor technology, mainframe computers, quantum computers and artificial intelligence," Krishna said.
The announcement is the latest in a string of investments unveiled since Biden signed the Chips and Science bill in August that funded USD 52 billion to subsidize semiconductor chips manufacturing and research, as per CNBC.
IBM earlier said in a statement that it will announce a plan to invest USD 20 billion across the Hudson Valley region over the next 10 years.
The goal of the investments, which will be strengthened by close collaboration with New York State, is to expand the vibrant technology ecosystem in New York to unlock new discoveries and opportunities in semiconductors, computers, hybrid cloud, artificial intelligence and quantum computers, as per the statement.
"IBM is deeply honoured to host President Biden at our Poughkeepsie site today and we look forward to highlighting our commitments to the innovations that advance America's economy," Krishna said. "As we tackle large-scale technological challenges in climate, energy, transportation and more, we must continue to invest in innovation and discovery - because advanced technologies are key to solving these problems and driving economic prosperity, including better jobs, for millions of Americans," he said.
As per the statement, IBM has long called New York state home, and its business supports more than 7,500 jobs across the Hudson Valley. (ANI)Get a daily dose of Maine Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Maine Mirror.
More InformationFederal officials, then-Governor of Indiana Eric Holcomb, union leaders, company representatives, and dozens of guests assembled at...
Amtrak to announce Mobile-New Orleans passenger rail start date on Tuesday
Jon Coupal- Assembly Bill 84 is an assault on taxpayers and students
California budget deal cooks the books again to hide big structural deficit
The common-sense reform to expand health care access
Walking away from the high-speed rail project would be best for taxpayers and the state
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
JERUSALEM, Israel: Israeli Prime Minister Benjamin Netanyahu says that Israel's success in the war with Iran could open the door to...
NEW DELHI, India: India has decided not to allow a United Nations (UN) investigator to join the investigation into the recent Air India...
BONN, Germany: Despite widespread belt-tightening across the United Nations, nearly 200 countries agreed this week to increase the...