Technology company IBM on Monday announced plans to invest $150 billion in the US over the next five years as it seeks to boost domestic manufacturing.
IBM, whose headquarters are in New York, said the investment will include more than $30 billion in research and development to advance its US manufacturing of mainframe and quantum computers.
The investment will help fuel the US economy and bolster its role as world leader in computing, the company said in a statement.
“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 epicentre of the world's most advanced computing and AI capabilities,” IBM chairman and chief executive Arvind Krishna said.
IBM also emphasised its position as operating the world's largest fleet of quantum computer systems and said more than 70 per cent of global transactions by value run through US-manufactured IBM mainframes.
IBM's investment follows similar moves from Apple and Nvidia, each of which have pledged investments of $500 billion amid President Donald Trump's push to boost US manufacturing.
Under Mr Trump's "America-First" agenda, he has imposed tariffs on trading partners worldwide, which in turn has unsettled global supply chains.
IBM last week reported better-than-expected earnings at $1.60 per share (versus $1.40 expected) for the first quarter. It also beat revenue estimates at $14.54 billion.
The company said it expects full-year constant currency revenue growth of at least 5 per cent. Second-quarter revenue is forecast to be in the range of $16.4 billion to $16.75 billion.
Mr Krishna said at the time that shifting policies under Mr Trump's administration would make it easier for technology to support economic growth.
“We remain bullish on the long-term growth opportunities for technology and the global economy,” Mr Krishna said.
“While the macroeconomic environment is fluid, based on what we know today, we are maintaining our full-year expectations for revenue growth and free cash flow.”
Goalkeepers: Francis Uzoho, Ikechukwu Ezenwa, Daniel Akpeyi Defenders: Olaoluwa Aina, Abdullahi Shehu, Chidozie Awaziem, William Ekong, Leon Balogun, Kenneth Omeruo, Jamilu Collins, Semi Ajayi Midfielders: John Obi Mikel, Wilfred Ndidi, Oghenekaro Etebo, John Ogu Forwards: Ahmed Musa, Victor Osimhen, Moses Simon, Henry Onyekuru, Odion Ighalo, Alexander Iwobi, Samuel Kalu, Paul Onuachu, Kelechi Iheanacho, Samuel Chukwueze
On Standby: Theophilus Afelokhai, Bryan Idowu, Ikouwem Utin, Mikel Agu, Junior Ajayi, Valentine Ozornwafor
UAE currency: the story behind the money in your pockets
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
THREE POSSIBLE REPLACEMENTS
Khalfan Mubarak
The Al Jazira playmaker has for some time been tipped for stardom within UAE football, with Quique Sanchez Flores, his former manager at Al Ahli, once labelling him a “genius”. He was only 17. Now 23, Mubarak has developed into a crafty supplier of chances, evidenced by his seven assists in six league matches this season. Still to display his class at international level, though.
Rayan Yaslam
The Al Ain attacking midfielder has become a regular starter for his club in the past 15 months. Yaslam, 23, is a tidy and intelligent player, technically proficient with an eye for opening up defences. Developed while alongside Abdulrahman in the Al Ain first-team and has progressed well since manager Zoran Mamic’s arrival. However, made his UAE debut only last December.
Ismail Matar
The Al Wahda forward is revered by teammates and a key contributor to the squad. At 35, his best days are behind him, but Matar is incredibly experienced and an example to his colleagues. His ability to cope with tournament football is a concern, though, despite Matar beginning the season well. Not a like-for-like replacement, although the system could be adjusted to suit.
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
