Biden hails IBM's $20 billion investment announcement - Digital Journal


US President Joe Biden listens to IBM CEO Arvind Krishna as he excursions the IBM facility in Poughkeepsie, New York – Copyright AFP MANDEL NGAN

IBM hosted US President Joe Biden on Thursday to have a good time the announcement of a $20 billion funding in semiconductors, quantum computing and different cutting-edge expertise in New York state.

CEO Arvind Krishna unveiled the decade-long spending in a speech alongside Biden on the tech large’s Poughkeepsie facility.

“We’re proud to announce that IBM is committing to take a position $20 billion throughout the area,” he advised the cheering staff.

“This funding contains advances in semiconductor expertise, mainframe computer systems, quantum computer systems and synthetic intelligence,” Krishna mentioned.

Biden, who flew to Poughkeepsie earlier for a tour of the positioning, hailed the promise of the “iconic American firm” as one other signal that his technique of rebuilding America’s modern edge is working.

“It’s right here, on this manufacturing facility and within the factories of different corporations throughout the US, that the way forward for America is actually being constructed,” he mentioned.

The Democrat has made it a precedence to foster progress in high-tech manufacturing, hoping to rebuild home provide chains on essential parts like microchips that for years have been left within the palms of international corporations primarily based as far-off as Taiwan.

Different main tasks at present underway embody Micron’s announcement of a $100 billion funding to fabricate semiconductors in New York and Wolfspeed’s promise to spend $5 billion on a brand new semiconductor plant in North Carolina.

In early September, Biden visited the fledgling website of Intel’s future $20 billion facility in Ohio.

“We’re higher positioned globally than we’ve got been in a very long time,” Biden mentioned, praising the American funding local weather created by “the world’s best staff,” “prime analysis universities,” dynamic enterprise capitalists and the momentum of his administration. by means of the most important federal infrastructure spending plans in a long time.

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