US, Canada plan North American chip corridor, starting with IBM expansion
The United States and Canada said on Friday they would work together to create a bilateral semiconductor manufacturing corridor, as International Business Machines (IBM.N) signaled its intent to expand in Canada.
The news came as U.S. President Joe Biden, who is visiting Canada, issued a joint pledge with Canadian Prime Minister Justin Trudeau to stand together against authoritarian regimes in part by reducing their dependence on other countries for critical minerals and semiconductors.
The Canadian government will spend C$250 million ($181.94 million) on its domestic semiconductor industry to boost research and development and manufacturing, the prime minister's office said in a statement.
In a joint statement, the two leaders said IBM would provide "a significant investment to develop new and expanded packaging and testing capabilities at its Bromont facility (in Quebec) as part of a Memorandum of Understanding."
The countries did not disclose the amount of IBM's investment in Canada.
IBM maintains semiconductor research and manufacturing operations in upstate New York. Last year, the company said it plans to invest $20 billion in New York's Hudson Valley region, once a manufacturing powerhouse, over the next decade to make and develop semiconductors, mainframe technology, artificial intelligence and quantum computing.
($1 = 1.3741 Canadian dollars)
The Canadian government will spend C$250 million ($181.94 million) on its domestic semiconductor industry to boost research and development and manufacturing, the prime minister's office said in a statement.
In a joint statement, the two leaders said IBM would provide "a significant investment to develop new and expanded packaging and testing capabilities at its Bromont facility (in Quebec) as part of a Memorandum of Understanding."
The countries did not disclose the amount of IBM's investment in Canada.
IBM maintains semiconductor research and manufacturing operations in upstate New York. Last year, the company said it plans to invest $20 billion in New York's Hudson Valley region, once a manufacturing powerhouse, over the next decade to make and develop semiconductors, mainframe technology, artificial intelligence and quantum computing.
($1 = 1.3741 Canadian dollars)
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
