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IBM Plans To Expand Its Semiconductor Business By $730 Million In Canada

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Canadian Prime Minister Justin Trudeau called the investment “a massive win for Canada and our dynamic tech sector.” Credit: IBM.

(CTN News) – IBM has announced that it will invest a reported US$1 billion ($730 million) to expand its semiconductor packaging and testing operations in Bromont, Quebec, Canada on a long-term basis.

In order to make the investment successful, the company will make it over the course of five years until 2029 and will be focused on developing advanced semiconductor components.

IBM’s plan, which is worth 187 million dollars to it, and plan is worth 227 million dollars, will see the expansion of IBM’s existing Quebec facility, as well as the construction of a new research and development lab, as well as the creation of around 280 jobs in the new lab.

There are reports that the Canadian and Quebec governments will provide a combined incentive package of somewhere between $73 million and $100 million for this first phase of the project.

In a statement from Daro Gil, IBM’s senior vice president and director of research, he said: “IBM has long been recognized as a key player in semiconductor research and development, building breakthroughs to meet tomorrow’s challenges.

With the escalating demand for compute power in the age of artificial intelligence, advanced packaging and chiplet technology are becoming increasingly critical for accelerating AI workloads in the most cost efficient manner.

“As one of the biggest chip assembly and testing facilities in North America, IBM’s Bromont facility is well positioned to play a key role in this future development of the company.

The semiconductor industry is proud that we are working with the governments of Canada and Quebec to achieve these goals and to build a stronger and more balanced semiconductor ecosystem in North America and beyond as a result.”

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Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

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