The US government is investing $2 billion in nine quantum computing companies, including Infleqtion, D-Wave Quantum, and Rigetti Computing, as part of a strategy to advance quantum technology for economic and national security benefits. IBM and GlobalFoundries are major recipients, with IBM set to receive $1 billion and GlobalFoundries $375 million. The funding comes from the 2022 Chips and Science Act, and the Commerce Department will take minority equity stakes in these firms. This move signals strong federal support for the emerging quantum computing sector and could accelerate innovation and commercialization.
IBM's business model remains strong despite a 7% decline in mainframe infrastructure revenue, supported by loyal legacy customers and solid free cash flow. Software growth, especially an 11% increase in Red Hat revenue, helps offset mainframe challen...
Energy prices cooled in June, easing inflation pressures despite ongoing tensions between the U.S. and Iran near the Strait of Hormuz. Morgan Stanley reported record quarterly revenue and profit, boosted by a surge in equities trading fueled by the A...
IBM reported earnings and revenue below expectations due to enterprises reducing spending on traditional IT systems to invest in their own AI infrastructure. This shift indicates companies prefer developing on-premises AI solutions with cheaper open-...
US stock futures rose after a softer-than-expected Consumer Price Index (CPI) report reduced the chances of a Federal Reserve rate hike in July. The market now awaits today's Producer Price Index (PPI) data, which could either confirm easing inflatio...
IBM introduced Power Autonomous Operations, an AI agent that autonomously monitors and resolves issues in Power systems up to 15 times faster than manual methods, enhancing system uptime and efficiency. Alongside, IBM launched the Power S1112, a comp...
