tech:

taffy

IBM Opens 50th Branch Office In China

[Techtaffy Newsdesk]

IBM has opened two new branch offices in the Chinese cities of Yantai and Yinchuan, bringing its total number of locations in the country to 50. Over the last year, IBM has opened offices in the cities of Dalian, Dongguan, Foshan, Guiyang, Haikou, Hu Zhou, Jia Xing, Jiao Zuo, Lan Zhou, Li Shui, LiuZhou, Luoyang, Mian Yang, Ping Ding Shan, Tai Zhou, Tangshan, Wenzhou, Wuxi, Xuzhou, as well as Yantai and Yinchuan.

IBM has an established geo expansion program in China in place to expand its operations to emerging high growth regions. The company is currently identifying new untapped markets in second and third tier cities in the country, distinguishing itself as a first-mover and securing competitive advantage over other international players.

Qian Daqun (Chairman and CEO, IBM Greater China Group): China is a key market for IBM and we have a major program of geographic expansion in place to ensure that we tap into the country’s best growth opportunities – wherever they are.

Located in the north and west of China, Yantai and Yinchuan’s economies have traditionally been dominated by agriculture, but the emerging services and manufacturing sectors are driving new IT sector growth as businesses turn to technology.

IBM first stared operations in China in 1979 when it shipped an IBM 370/138 mainframe to Shenyang Air Blower Factory.  In the 1990s IBM was the first multinational company to establish joint venture plants in China and set up R&D operations with the IBM China Research Laboratory (CRL) in north-west Beijing. More recently, IBM opened a Global Rail Innovation Center, an IBM Analytics Solution Center, the IBM China Institute of e-government and the IBM Energy & Utilities Solutions Lab. Shanghai is also the headquarters of IBM’s Growth Markets Unit.

Just in

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.