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-source models rather than relying on costly frontier AI models hosted by hyperscalers. The trend reflects a broader AI infrastructure bubble burst, where overinvestment in expensive AI datacenters by hyperscalers contrasts with enterprise demand for more affordable AI options. This change may reshape the AI market and investment strategies going forward.
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...
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...
Sperax, creator of the auto-yield stablecoin USDs and SperaxOS AI agent workspace, has become an official IBM Business Partner. This partnership combines Sperax's AI-driven DeFi technology with IBM's enterprise AI and cloud infrastructure, enabling r...
Ademi LLP has started an investigation into IBM for potential securities fraud related to inaccurate statements about its financial results and business operations. This follows IBM's recent admission that it struggled to adapt to shifts in corporate...
