IBM has announced that it will invest as much as $20 billion in New York State over the next ten years. This involves setting up chip production sites for high technology such as AI and quantum computing.
Big Blue announced the investments during a visit by U.S. President Joe Biden to the IBM complex in Poughkeepsie, New York. With the pledged investments, the tech giant plans to invest primarily in the state’s Hudson Valley region.
Processors for AI and quantum computing
IBM wants to invest in this location primarily in technology to help counteract problems in the areas of climate, energy, transportation, among others.
Specifically, this involves the manufacture of high-quality processors that should form the basis for AI solutions and quantum computing. The Poughkeepsie location is home to IBM’s first Quantum Computation Center. The quantum computers present within this location run entirely in the cloud, according to the tech giant.
The Albany location, also in the Hudson Valley region, houses a factory where the tech giant plans to make 2-nanometer processors.
Part of US CHIPS and Science Act
IBM’s investments fall under the US CHIPS and Science Act recently signed by President Biden. This act, which offers more than 50 billion in subsidies and tax breaks, is intended to give the United States a larger share of the global market for processors. It also reduces the country’s dependence on chip producers, especially from Asia.