IBM to invest $150 billion in America over next five years to aid quantum push
Joining the likes of Apple and Nvidia, IBM will invest $150 billion in the U.S., including on facilities for quantum computer production, over the next five years, the latest American technology company to back the Trump administration’s push for American manufacturing.
Reuters:
The company’s announcement on Monday follows similar pledges by tech giants such as Nvidia and Apple, both of which have said they would spend about $500 billion each in the country over the next four years.
IBM, also a significant government contractor, said more than $30 billion of the total investment would be used to expand its U.S. manufacturing of quantum computers and mainframes — systems used for handling vast data and critical applications.
The company operates one of the world’s largest fleet of quantum computing systems, which promise to offer performance thousands of times more powerful than traditional computers.
The company had cash and cash equivalents of $14.8 billion as of December 31. It spent $1.13 billion on capital expenditure last year, while total expenses were $29.75 billion.
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