International Business Machines Corp. IBM,
said Thursday it would host President Joe Biden for a tour of his Poughkeepsie, NY site on Thursday as it announced plans to invest $20 billion in the Hudson Valley region over the next 10 years. “The goal of the investment, which will be strengthened in close collaboration with the State of New York, is to expand the vibrant technology ecosystem in New York to unlock new discoveries and opportunities in semiconductors, computers, hybrid clouds, artificial intelligence and quantum computers. could.” The company said in a statement. IBM has over 7,500 jobs located in the Hudson Valley. The company said it would benefit directly from Biden’s Chips and Science Act, which would ensure a secure supply of next-generation chips for its computers and AI platforms. Poughkeepsie is home to IBM’s first quantum computation center. Shares of IBM were slightly lower than premarket and are down 6% to date, while the Dow Jones Industrial Average (DJIA),
has fallen 17%.
Credit: www.marketwatch.com /