IBM plans US$150 billion spend to catch quantum computing wave
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Computer and software services company IBM Corp. has said it plans to spend US$150 billion in America over the next five years.
However, borrowing and/or government support are likely to be needed. The proposed US$150 billion investment is more than twice IBM’s total revenue in the 2024 financial year (US$62.8 billion) and 25x the net income.
While the spend is generic there is a clear emphasis on trying to catch a wave of adoption of quantum computing. The spending will include US$30 billion on R&D to help address the quantum computing market, IBM said.
It is notable that IBM used the continental term ‘America’ in its announcement, implying that as well as the United States; Canada, Mexico and countries further south could benefit from the spend.
“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 epi-center of the world’s most advanced computing and AI capabilities,” said Arvind Krishna, chairman and CEO, in a statement.
IBM already operates Quantum Network which provides remote access to IBM quantum computers. The company said it would continue to design, build and assemble quantum computers in America.
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