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IBM announced plans to pump $3 billion into an overhaul of computer chip technology to better meet modern demands of Big Data and computing pushed to the Internet cloud. The New York-based technology veteran hopes to leave behind the silicon long used in computer chips for a material that could ramp up power while shrinking processors to molecular levels. Services and programs are increasingly being hosted at data centers in the Internet cloud, and companies are keen to mine and quickly analyze mountains of data available in the Internet age. The company said the money will be used over the next five years to beef up research teams in areas including carbon nanoelectronics, silicon photonics, new memory technologies, and architectures for quantum and cognitive computing.