IBM to Invest $20 Billion in New York's Hudson Valley to Boost Technology Research, Manufacturing
06 October 2022 - 9:24PM
Dow Jones News
By Ben Otto
Technology giant International Business Machines Corp. plans to
invest $20 billion across the Hudson Valley region of New York in
the next 10 years to boost innovation related to semiconductors,
artificial intelligence and quantum computers, among others, it
said Thursday.
New York-based IBM said Thursday ahead of a visit by President
Biden that it hoped the investment would accelerate the pace of
discovery across the region, where the company has long built
state-of-the-art mainframes and last year announced the first 2
nanometer chip technology.
"As we tackle large-scale technological challenges in climate,
energy, transportation and more, we must continue to invest in
innovation and discovery," said Arvind Krishna, the company's
chairman and chief executive. "Advanced technologies are key to
solving these problems and driving economic prosperity."
Mr. Biden plans to visit IBM facilities in Poughkeepsie, N.Y.,
where the company builds mainframe computers and has a quantum
computation center, among others, it said.
IBM added that its vision is for Poughkeepsie "to become a
global hub of the company's quantum computing development, just as
it is today for mainframes."
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
October 06, 2022 06:09 ET (10:09 GMT)
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