International Business Machines Corp (NYSE:IBM) has announced plans to invest $150 billion in the United States over the next five years, directed toward research and development, manufacturing, and quantum computing initiatives.
At least $30 billion of the total investment will support R&D efforts, focusing on advanced computing technologies such as mainframe and quantum computers.
IBM said it would continue manufacturing its mainframe systems in Poughkeepsie, New York, where the company produces systems that currently process more than 70% of the world’s transactions by value.
IBM CEO Arvind Krishna said the investment aims to maintain the company’s position at the forefront of advanced computing and AI capabilities.
"We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are ensuring that IBM remains the epicenter of the world's most advanced computing and AI capabilities,” Krishna said in a statement.
IBM shares traded up 0.4% at $233 shortly after US markets opened on Monday.