IBM plans $2 billion expansion in New York for artificial intelligence
ALBANY – IBM will invest $2 billion in New York to develop artificial intelligence hardware and bolster research opportunities in the field with the state's publicly funded university system, the company announced Thursday.
The technology company will be partnering with the State University of New York to develop an AI Hardware Center at SUNY Polytechnic Institute in Albany.
And it comes with a hefty state subsidy of $300 million.
The new center, which is expected to generate hundreds of new jobs in the state's Capital region, will be supported by IBM's research center in Yorktown Heights, according to a spokesperson for the company.
"AI will transform the world in dramatic ways in the coming years. IBM is pushing the boundaries of AI faster - for the benefit of industry and society," Mukesh Khare, vice president for semiconductor and AI hardware at IBM Research said in a statement.
"By expanding our partnership with New York state, we are creating a global hub of AI hardware research with an ecosystem to innovate, incubate, and lead in the development of disruptive technologies."