Joe Biden says US$20 billion IBM investment will boost US in tech competition with China
- The president cited the plan as part of a larger manufacturing boom spurred by the Chips Act, which seeks to bolster the US semiconductor industry
- In addition to microchip R&D, IBM’s investment will also cover mainframe technology, artificial intelligence and quantum computing
US President Joe Biden said on Thursday that a US$20 billion investment by IBM in New York’s Hudson River Valley would help give the United States a technological edge against China.
The president cited IBM’s commitment as part of a larger manufacturing boom, spurred by this summer’s passage of a US$280 billion measure intended to boost the semiconductor industry and scientific research.
That legislation was needed for national and economic security, Biden said in Poughkeepsie, adding that “the Chinese Communist Party actively lobbied against” it.
“The United States has to lead the world of producing these advanced chips – this law is going to make sure that it will,” Biden said.
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The Chips and Science Act, which Biden signed in August, was a rare bill for which the president was able to win bipartisan support.
IBM’s US$20 billion investment over the next decade is intended to bolster research and development and manufacturing of semiconductors, mainframe technology, artificial intelligence and quantum computing.
