Investing.com -- U.S. and international companies alike have been flocking to announce investments in America amid President Trump’s push to reshore manufacturing. Today, tech giant IBM (NYSE: IBM (NYSE:IBM)) was the latest to announce a major investment.
IBM announced plans to invest $150 billion in the U.S. over the next five years, including more than $30 billion in research and development to advance the manufacturing of mainframe and quantum computers.
"Technology doesn’t just build the future — it defines it," said IBM CEO Arvind (NSE:ARVN) Krishna. "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."
Today’s announcement from IBM follows similar announcements from tech firms like NVIDIA (NASDAQ:NVDA) and Apple (NASDAQ:AAPL). Both will be investing $500 billion in the U.S. over the next several years.
IBM will invest in its manufacturing hub in Poughkeepsie, New York. The facility is at the heart of the company’s operations, manufacturing advanced mainframes that are integral to both the American and global economies. Over 70% of the world’s transactions by value are processed through IBM mainframes, which are manufactured in the United States.
In addition to its mainframe production, IBM operates the largest fleet of quantum computer systems worldwide.