Biden to tout IBM’s $20 billion investment in New York over next decade

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Reuters

By David Shepardson and Nandita Bose WASHINGTON (Reuters) – President Biden on Thursday will tout IBM Corp’s plans to invest $20 billion in New York over the next decade in development and manufacturing of semiconductors, mainframe technology, artifical intelligence and quantum computing. The announcement is the latest in a string of investments unveiled since Biden signed the Chips and Science bill in August that funded $52 billion to subsidize semiconductor chips manufacturing and research. The administration says hefty subsidies for private businesses are necessary because China and the Eur…

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