Biden to hail IBM’s $20 bln funding announcement

Washington: IBM will host US President Joe Biden Thursday to have a good time the announcement of a $20-billion funding in semiconductors, quantum computing and different cutting-edge know-how in New York state, the White Home stated.

The chipmaker “will announce a $20 billion funding over the following decade in R&D and manufacturing of semiconductors, mainframe know-how, synthetic intelligence and quantum computing,” the White Home stated.

Biden is flying to Poughkeepsie, New York to tour the positioning.

The Democrat has made a precedence of encouraging progress in high-tech manufacturing, hoping to rebuild home provide chains in essential parts comparable to microchips that for years have been left to overseas firms primarily based as distant as Taiwan.

Biden will make public remarks throughout the tour, and the White Home echoed his now frequent declare to have ushered in a “manufacturing growth nationwide that’s strengthening our economic system and nationwide safety and creating good-paying, American jobs.”

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

In early September, Biden visited the nascent web site of Intel’s future $20-billion facility in Ohio.

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