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.”