IBM’s Stock Plummets Amid AI and Storage Shift | Business and Finance News

IBM’s CEO admits the company “faltered” this quarter as customer spending shifted from mainframe and server deals to memory and storage—driving a 25% stock plunge, its worst single-day drop in 115 years. But the CEO points to temporary market dynamics, with supply easing later this year. Looking ahead, IBM’s bet on AI-powered mainframes and a $10B quantum computing push by 2029 could reshape its future. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ebe2d9f3ad8c93d6