Biden: The US can "own" next decade of global tech race

Driving the news: IBM announced a $20 billion investment over the next 10 years into research and development and manufacturing semiconductors and technology across upstate New York.

• The announcement comes days after memory chip maker Micron said it plans to commit up to $100 billion over the next 20 years to build a computer chip factory in the same area.

What he said: "More is going to change for the better in the next 10 years than happened in the last 40 years," Biden said.

• "We are better positioned than any other nation in the world to own the second quarter of the 21st century," he added.
• "When you have the best infrastructure in the world, companies invest where the infrastructure is," Biden said.

Zoom in: The president said it's important for the United States to develop technology to create vaccines for cancer and cure HIV, as well as stay in competition with China's military.

• "We need semiconductors ... to create weapons systems for the future," Biden said.

Background: Biden visited IBM’s Poughkeepsie, New York, site to speak with workers there and tour the site.

• Poughkeepsie is the only IBM site where the company builds mainframe systems. It's also home to IBM's quantum computer system.
• IBM said it hopes the Poughkeepsie site will become "a global hub of the company’s quantum computing development," according to a White House official.

Go deeper: Chip billions won't be a quick fix