The investment, announced amidst the US President Joe Biden's visit to the IBM Poughkeepsie site, aims to open up new avenues for research and development in the areas of semiconductors, hybrid cloud, computers, artificial intelligence, and quantum computers
IBM announces $20bn investment across the Hudson Valley region in next 10 years. (Credit: IBM)
IBM plans to invest $20bn in the coming 10 years in the Hudson Valley region with an aim to expand the technology ecosystem in New York.
With the investment and close collaboration with New York State, the company intends to open up new avenues for research and development in the fields of hybrid cloud, semiconductors, computers, artificial intelligence, and quantum computers.
The announcement has come amidst the US President Joe Biden’s visit to the IBM Poughkeepsie site on Thursday.
IBM chairman and CEO Arvind Krishna said: “IBM is deeply honoured to host President Biden at our Poughkeepsie site today and we look forward to highlighting our commitments to the innovations that advance America’s economy.
“As we tackle large-scale technological challenges in climate, energy, transportation and more, we must continue to invest in innovation and discovery – because advanced technologies are key to solving these problems and driving economic prosperity, including better jobs, for millions of Americans.”
According to the company, its Poughkeepsie site manufactures latest generation mainframe computers that fuel the global economy.
The location in Poughkeepsie is also the home to IBM’s first quantum computation centre, where a number of real quantum computers run in the cloud.
In Albany, which is part of the Hudson Valley, IBM as part of a public-private semiconductor ecosystem unveiled the first 2 nanometer chip technology in May 2021.
The company said that the expansion of the collaborative innovation model in Albany could serve as a base for the National Semiconductor Technology Center (NSTC) that will be taken up as part of the CHIPS and Science Act.
IBM said that its investment across Hudson Valley will drive economic development and generate job opportunities for people from all backgrounds to work with cutting-edge systems and expedite the pace of discovery in the region.