On Thursday, IBM Common Stock/ International Business Machines Corporation said that it intends to make investments totaling $20 billion in the Hudson Valley area in New York state over the course of the next ten years.
The announcement was made at the same time as Vice President Joe Biden’s visit to the computing company’s site in Poughkeepsie, which is located in the state. The administration is attempting to promote industrial and technological investment in the United States in advance of the midterm congressional elections that will take place the following month.
IBM Investment
IBM (NYSE:IBM) did not disclose any details about its planned investments but stated that semiconductors, computers, hybrid cloud, artificial intelligence, and quantum computers are some of the areas of focus for the company’s future investments.
“The company’s aim is for Poughkeepsie to become a global core of the firm’s quantum computing research,” the company said in a statement on Thursday. “Just as it is today for mainframes, IBM sees Poughkeepsie being a global hub for the development of quantum computing.”
In an effort to strengthen U.S. competition in the face of China’s expanding presence in the industry, President Biden gave the Chips and Science Act his signature in August, making it a law. The act includes around $52 billion to be used for the promotion of the manufacturing of microchips.
Featured Image- Megapixl @ Geografas
Author Valerie Remorosa 
