IBM announced a five-year, $150 billion plan to invest in its U.S. operations, including over $30 billion designed to boost the company’s production of quantum and mainframe computers.
Keeping Production in the U.S.
According to IBM, over 70% of the world’s transactions by value use U.S.-made IBM mainframes. The company stated in a press release that the investment would allow it to continue designing, building, and assembling mainframes in Poughkeepsie, New York.
Largest Tech Platform Shift in Decades
IBM identified quantum computing as one of the largest economic opportunities and technology platform shifts in decades. It has the potential to address problems that traditional computers cannot solve. The company added that these solutions could transform U.S. jobs, national security, and competitiveness.
Other Tech Industry Developments
The announcement follows other significant tech investments in the U.S., including Nvidia’s $100 billion plan over four years and Apple’s pledge to spend $500 billion in four years. In contrast, Bloomberg reported that chipmaker Intel plans to cut approximately 20% of its workforce, affecting about 22,000 workers.
IBM’s Quantum Network provides access to its systems for about 300 Fortune 500 companies, national laboratories, startups, and academic institutions.
Image credit: IBM
