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Innovation

IBM Wants to Invent the Chips of the Future, Not Make Them

IBM plans to spend $3 billion over the next five years on research and development for computer chips, both to stretch the limits of conventional semiconductors and to hasten the commercialization of exotic new designs.

The chip program, announced Wednesday, will be among the largest research initiatives at IBM, which spends about $6 billion a year on research and development. “We’re investing to really push the frontiers” of chip technology, said John E. Kelly, senior vice

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