IBM and Friends Invests US$4.4 Billion in New York Chip Technology Hub

International Business Machines Corp, or better known as IBM will invest US$3.6 billion -- while Intel, Globalfoundries Inc., Taiwan Semiconductor Manufacturing and Samsung Electronics make up the rest of the US$4.4 billion -- to create a hub in New York that focuses on creating next-generation computer chip technology.

According to Business Week, one of the areas in which the hub will concentrate on, is to transform 300-millimeter wafer technology into 450-milimeter technology that will double the number of chips produced.

“This is really all about the computing systems IBM and others will construct using advanced technologies,” John Kelly, senior vice president and director of research at Armonk, New York-based IBM, said at a press conference in Albany. “This will create computers that will help doctors diagnose advanced diseases.”

Existing research and development facilities around New York will also receive sizable investments.