IBM will announce a $20 billion investment in semiconductors production in the United States over the next ten years during US President Joe Biden's visit to Poughkeepsie, New York, later on Thursday, White Hosue spokesperson Karine Jean-Pierre said
WASHINGTON (Pakistan Point News / Sputnik - 06th October, 2022) IBM will announce a $20 billion investment in semiconductors production in the United States over the next ten years during US President Joe Biden's visit to Poughkeepsie, New York, later on Thursday, White Hosue spokesperson Karine Jean-Pierre said.
"During the President's visit, the company will announce a $20 billion investment over the next decade in R&D (research and development) into design and manufacturing of semiconductors, mainframe technology, artificial intelligence, and the quantum computing across the Hudson Valley," Jean-Pierre said during a press briefing on Thursday.
National Economic Council Director Brian Deese noted that another US company, Our Next Energy, announced its plans to invest $1.6 billion to produce large-capacity batteries in the United States.
In August, Biden issued an executive order to implement the $280 billion CHIPS and Science Act of 2022, which includes more than $52 billion in subsidies for US semiconductor manufacturers in an effort to counter China's growing technological clout.
