IBM to invest $150 bn in US over five years

New York: Technology giant IBM announced plans on Monday to invest $150 billion in the United States over five years, including $30 billion earmarked...

New York: Technology giant IBM announced plans on Monday to invest $150 billion in the United States over five years, including $30 billion earmarked for research and development to bolster manufacturing of mainframe and quantum computers.

"Technology doesn't just build the future - it defines it," said IBM chairman and CEO Arvind Krishna in a statement.

The investment, which comes as President Donald Trump puts pressure on companies to invest in the United States, aims to cement IBM's position as "the epicenter of the world's most advanced computing and AI capabilities," Krishna added.

Corporate giants, including Apple, Nvidia and Hyundai, have announced major spending plans in the United States since Trump returned to the White House in January, though some of that investment was already in the pipeline.

Trump earlier this month unveiled an unprecedented wave of tariff hikes in his effort to push US companies to shift manufacturing home.