Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

Biden praises IBM's decision to launch investment worth $20 bln

  • By Al Mayadeen English
  • Source: Agencies
  • 6 Oct 2022 23:23
4 Min Read

Biden is still making it a priority to invest in high-tech despite that thousands suffered heavy losses during hurricane Ian in Florida.

  • x
  • Biden praises IBM's decision to launch investment worth $20 bln
    Biden praised the investment from IBM as another stepping stone in his administration's strategy to rebuild the US innovative edge

A ceremony was launched by IBM at the Poughkeepsie facility in New York, on Thursday, in the company US President Joe Biden to celebrate the announcement of a $20-billion investment in semiconductors, quantum computing, and other cutting-edge technology.  

"We are proud to announce that IBM is pledging to invest $20 billion across the region," said CEO Arvind Krishna alongside Biden at the Poughkeepsie facility, adding that the spending will take place over the next ten years.

"This investment includes breakthroughs in semiconductor technology, mainframe computers, quantum computers, and artificial intelligence," Krishna said.  

Biden praised the investment from IBM as another stepping stone in his administration's strategy to rebuild the US innovative edge.   

"It's here at this factory and the factories of other companies across America where America's future is literally being built," Biden said.  

biden looks at a quantum computer at ibm pic.twitter.com/ZYWPfpVedO

— Justin Sink (@justinsink) October 6, 2022

But this is not the only major investment Biden has concluded so far.

Two days ago, Micron's announced a $100-billion investment in the manufacture semiconductors in New York. 

Last month, Wolfspeed's pledged to spend $5 billion on a new semiconductor plant in North Carolina.  

In early September, Biden visited the nascent site of Intel's future $20-billion facility in Ohio.  

Related News

US secretly putting trackers in AI chip shipments to China: Reuters

China warns foreign-made chips and software may enable data theft

"We're better positioned globally than any time in a long time," Biden said, hailing the US investment climate created by "the most productive workers in the world," the "best research universities," dynamic venture capitalists and his administration's pushing through of the biggest federal infrastructure spending plans in decades. 

Read more: Biden signs order increasing reviews of foreign investment in tech

On August 25, the White House announced the signing of an executive order to implement the CHIPS and Science Act of 2022.

The $280 billion industrial policy bill, which Biden signed into law two weeks prior, includes more than $52 billion in subsidies for US semiconductor manufacturers in an effort to counter China's technological prowess.

"The US has relied too heavily on foreign materials and bioproduction, and our past off-shoring of critical industries, including biotechnology, threatens our ability to access materials like important chemicals and active pharmaceutical ingredients," the White House said in a press release.    

The initiative commits a total of $280bn to hi-tech manufacturing and research and is designed to increase the US’s competitiveness with China.

Global shortages of computer chips, prompted by the coronavirus pandemic and the conflict in Ukraine, have caused production delays on a global scale for technology companies and other manufacturers.

In addition, the industry has gained increased geopolitical prominence as China accused the bill of threatening global supply chains and hampering international trade. 

The Chinese Embassy in Washington said Beijing "firmly opposed" the bill as it strikes as a "Cold War mentality."

Due to the global microchip shortage, the US economy lost last year $240 billion, and a war over Taiwan would be even more catastrophic for the US due to its reliance on one single supplier, Taiwan Semiconductor Manufacturing Company (TSMC).

The US crackdown on the sale of technology to China has already begun to have an impact, with the US chip designer Nvidia disclosing last week that it had been told by US officials to stop exporting two top computing chips for artificial intelligence work to China.

Read more: Google to collaborate with US gov. to create new supply of microchips

  • Microchips
  • semiconductors
  • Biden
  • IBM

Most Read

Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025
UKLFI’s latest faux pas, like "Israel’s" recent failed attempt at regime change in Iran, is unambiguously indicative of a flailing entity on the verge of extinction. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

Zionist lawfare operation facing collapse?

  • Opinion
  • 13 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS