IBM pledges to spend $150B in the US over the next few years

Enterprise tech giant IBM says that it plans to invest $150 billion in the U.S. over the next five years, which will include a “more than” $30 billion investment in mainframe and quantum computing research. The goal is to fuel the economy and “accelerate [IBM’s] role as the global leader in computing,” the company said in a press release Monday.

“We have been focused on American jobs and manufacturing since our founding 114 years ago,” CEO Arvind Krishna said in the statement, “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.”

As Bloomberg notes, companies ranging from Apple to Nvidia have announced plans to spend billions of dollars boosting their U.S. manufacturing presence since President Donald Trump’s election. Many of the plans closely track prior spending trends or were already in the works before the election.