IBM plans to invest $150 billion over the next five years to fuel the U.S. economy. Included in the spending plan is more than $30 billion devoted to research and development for mainframe and quantum computers to be manufactured in the U.S. The announcement comes as President Trump is pressing global companies to invest more here, including with trade tariffs that threaten to make products manufactured overseas more expensive to sell at home. IBM CEO Arvind Krishna says the company has “been focused on American jobs and manufacturing since our founding 114 years ago.”

Apple, Nvidia and even Taiwan-based chip giant TSMC “have upped their investments in U.S. manufacturing over the past few months as President Trump has proposed and implemented new tariffs on imports,” reports The Wall Street Journal.

Nvidia and Apple alone “have said they would spend about $500 billion each in the country over the next four years,” according to Reuters.

“With this investment and manufacturing commitment we are ensuring that IBM remains the epicenter of the world’s most advanced computing and AI capabilities,” Krishna added in IBM’s announcement.

The Armonk, New York-based company already operates a substantial mainframe manufacturing business an hour north in Poughkeepsie, though its business in the greater Hudson Valley has downsized from over 31,000 employees there at its height in the 1980s to 7,000 people by 2025.

IBM says the mainframe computers used by enterprise “are the technology backbone of the American and global economies” and that “more than 70 percent of the entire world’s transactions by value run through the IBM mainframes that are manufactured right here in America,” per its announcement.

IBM previously committed $20 billion in new U.S. spending and was one of many tech companies to sign aboard under the Biden administration’s CHIPS Act, which provided government funding incentives.

The fate of the CHIPS Act is now in limbo. Bloomberg reported last month that Commerce Secretary Howard Lutnick, “has signaled he could withhold promised CHIPS Act grants as he pushes companies in line for federal semiconductor subsidies to substantially expand their U.S. projects.”

Lutnick is aiming “to generate tens of billions of dollars in additional semiconductor investment commitments without increasing the size of federal grants,” according to Bloomberg. TSMC recently said it will invest an additional $100 billion in U.S. manufacturing on top of its $65 billion CHIPS pledge.