SynopsisThe investment will go toward R&D, capital expenditures, scaling manufacturing capabilities and acquisitions, the company known for building the Watson supercomputer said.APGerstner moved to IBM from being the CEO of RJR Nabisco in April 1993 after stints at American Express and the consultancy McKinsey, becoming the first outsider to run Big Blue, as IBM was calledIBM will invest more than $10 billion over the next five years in an effort to deliver the first large-scale fault-tolerant quantum computer by 2029, according to an SEC filing on Thursday. The investment will go toward R&D, capital expenditures, scaling manufacturing capabilities and acquisitions, the company known for building the Watson supercomputer said. Last week, companies including IBM and GlobalFoundries announced the Trump administration will take stakes in quantum computing firms to secure leadership in the emerging technology. IBM has deployed more than 90 quantum computers to date. The technology has sparked investor interest because of its potential to speed up complex tasks such as cryptography and financial modeling. (Reporting by Anhata Rooprai in Bengaluru; Editing by Leroy Leo) ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now
IBM plans $10 billion investment for large-scale quantum computer by 2029 - The Economic Times
The investment will go toward R&D, capital expenditures, scaling manufacturing capabilities and acquisitions, the company known for building the Watson supercomputer said.
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