IBM plans $2 bn investment in New York targeting AI

IBM, a tenant at the SUNY Polytechnic Institute campus in Albany, plans to invest over $2 billion to grow its footprint at the campus and throughout New York State.
IBM will be setting up an AI Hardware Center at SUNY Poly for artificial intelligence-focused computer chip research, development, prototyping, testing and simulation.

IBM’s $2 billion investment will be made at SUNY Poly and other IBM facilities in New York State.

IBM plans to provide $30 million in cash and in-kind contributions for AI research across the SUNY system, with SUNY matching up to $25 million for a total of $55 million. Empire State Development will provide a $300 million capital grant over five years, to the Research Foundation for SUNY to purchase tools to support the AI Hardware Center.

The AI Hardware Center will attract new AI industry companies and federal research to the state.

“We are creating a hub of AI hardware research with an ecosystem to innovate, incubate, and lead in the development of disruptive technologies,” Mukesh Khare, VP, Semiconductor and AI Hardware, IBM Research said.

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