IBM ramps up US investment with US$150b commitment to tech manufacturing
Make us a preferred source
Make us a preferred source on Google
The news: IBM said it will invest USD150 billion ($233.8 billion) in the United States over the next five years, joining a slew of technology companies announcing new spending plans after the Trump administration’s pressure to expand US manufacturing.
The investment includes more than USD30 billion to support production and research of mainframe and quantum computers.
The context: IBM said the goal is to fuel the economy and accelerate its role as the global leader in computing. The announcement follows similar spending pledges by Apple and Nvidia.
CEO Arvind Krishna said IBM, founded 114 years ago, remains committed to American jobs and ensuring the company stays “the epicentre of the world’s most advanced computing and AI.”
IBM’s mainframes are manufactured in upstate New York, and it will continue designing, building and assembling quantum computers domestically.
The numbers: IBM had USD14.8 billion in cash as of last December, spent USD1.13 billion on capital expenditure last year, and reported total expenses of USD29.75 billion.
