May 28 (Reuters) - IBM will invest more than $10 billion over the next five years in an effort to deliver the first large-scale fault-tolerant quantum computer by 2029, according to an SEC filing on Thursday.
The investment will go toward R&D, capital expenditures, scaling manufacturing capabilities and acquisitions, the company known for building the Watson supercomputer said.
Last week, companies including IBM and GlobalFoundries announced the Trump administration will take stakes in quantum computing firms to secure leadership in the emerging technology.
IBM has deployed more than 90 quantum computers to date. The technology has sparked investor interest because of its potential to speed up complex tasks such as cryptography and financial modeling.
Reporting by Anhata Rooprai in Bengaluru; Editing by Leroy Leo
Source: Reuters