Additional Coverage:
- IBM announces $150B investment in US (foxbusiness.com)
IBM Pledges $150 Billion Investment in US Innovation
Tech giant IBM has announced a massive $150 billion investment in the United States over the next five years. This commitment aims to boost the American economy and solidify IBM’s position as a global leader in computing, particularly in areas like artificial intelligence, quantum computing, and mainframe technology.
In an interview, IBM CEO Arvind Krishna emphasized the company’s focus on “American ingenuity and American innovation.” He stated that this investment in research and development, along with associated manufacturing, will propel the US to the forefront of these key technologies. Krishna also expressed appreciation for the current administration’s support of American innovation.
IBM has a long and storied history, dating back to its founding in 1911. The company has played a crucial role in numerous technological advancements, from supporting the US social security system to contributing to the Apollo moon landing. A significant portion of global financial transactions are processed through IBM mainframe computers manufactured in Poughkeepsie, New York.
The company plans to continue designing, building, and assembling its quantum computers in the US. This substantial investment comes on the heels of a strong first-quarter performance for IBM, with reported revenue of $14.5 billion.
The company’s stock has also performed well this year, outpacing the S&P 500 index. Looking ahead, IBM projects continued revenue growth and remains optimistic about the long-term prospects for both the technology sector and the global economy.
Read More About This Story:
- IBM announces $150B investment in US (foxbusiness.com)