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IBM (IBM) said Monday that it will invest $150 billion in the U.S. over the next five years. IBM stock closed the day higher.
The $150 billion pledge includes $30 billion for research and development for manufacturing mainframe and quantum computers in Poughkeepsie, N.Y. The 114-year-old tech giant said more than 70% of global transactions run through mainframes manufactured by IBM in America. The company is also focused on developing quantum computers in the U.S.
IBM joins Apple (AAPL), Nvidia (NVDA) and Taiwan Semiconductor Manufacturing (TSM) in announcing U.S. spending pledges in the weeks following President Donald Trump's tariff announcement.