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)