Welcome to our dedicated page for International Business Machines Corporation news (Ticker: IBM), a resource for investors and traders seeking the latest updates and insights on International Business Machines Corporation stock.
International Business Machines Corporation (IBM), known as Big Blue, is an American multinational technology leader headquartered in Armonk, New York, and operates across over 175 countries. IBM is a cornerstone in the realm of enterprise IT, offering an extensive range of products and services including software, IT services, consulting, and hardware solutions. Employing around 350,000 people and collaborating with 80,000 business partners, IBM serves approximately 5,200 clients worldwide, encompassing 95% of the Fortune 500 companies.
IBM's influence extends far beyond its B2B operations. The company oversees 90% of credit card transactions globally and is responsible for half of the world's wireless connections. This significant footprint underscores IBM's pivotal role in global business and technology.
Recent developments highlight IBM's ongoing innovation and leadership. For example, the company announced its first-quarter 2024 earnings results, showcasing strong revenue and free cash flow growth, driven by its hybrid cloud and AI strategy. The acquisition of HashiCorp is expected to bolster IBM's capabilities in managing application and infrastructure complexity, creating a robust hybrid cloud platform for the AI era.
IBM is also making notable strides in sustainability. The IBM 2023 Impact Report outlines the company's commitment to environmental and societal goals, leveraging technology like AI to address these challenges. IBM aims to achieve operational net zero GHG emissions by 2030, utilizing AI-powered tools to optimize energy consumption across its facilities.
The company is expanding its software portfolio's global availability on AWS Marketplace, making it easier for clients in 92 countries to procure and deploy IBM solutions. This expansion is part of IBM's strategy to enhance digital transformation for its clients.
IBM's dedication to innovation and sustainability is further evidenced by its partnerships with the Canadian and Quebec governments to advance semiconductor research and development, significantly boosting the region's tech sector.
Overall, IBM remains a formidable force in the tech industry, consistently pushing the envelope in AI, hybrid cloud, and sustainable practices, ensuring its clients and partners can navigate and thrive in the ever-evolving technological landscape.
IBM has appointed Gary D. Cohn as Vice Chairman, joining the Executive Leadership Team. Cohn's extensive experience in business and government is expected to enhance IBM's initiatives in business development and client services. He aims to support the company's hybrid cloud and AI strategy, a crucial area for growth. Previously, Cohn served as Assistant to the President for Economic Policy and was President of Goldman Sachs. His leadership is anticipated to bring valuable insights to IBM's operations and client engagement.
IBM has been awarded a blanket purchase agreement (BPA) by the U.S. Department of Agriculture (USDA) worth approximately $620M over five years to provide software development services. This BPA, secured among over 30 competing vendors, aims to support USDA's digital modernization efforts for conservation programs managed by the Natural Resources Conservation Service and the Farm Services Agency. IBM's experience in application modernization will help enhance critical conservation efforts, benefiting farmers and ranchers in managing natural resources.
On December 21, 2020, IBM announced a Phase 1 Other Transactions Agreement under the RAMP Advanced Commercial Capabilities Project, aimed at enhancing U.S. microelectronics technology. This initiative, administered by the Naval Surface Warfare Center and funded by the Department of Defense, focuses on developing secure microelectronics, including Application Specific Integrated Circuits and Systems on a Chip. IBM's collaboration aims to establish a self-sustainable supply chain that meets DoD requirements while improving performance and reliability.
IBM announced an agreement to acquire Nordcloud, a leading European cloud services provider, boosting its cloud migration and transformation capabilities. With headquarters in Helsinki, Nordcloud is recognized for its expertise in public cloud services and is triple certified by Amazon Web Services, Google Cloud Platform, and Microsoft Azure. This strategic acquisition aims to enhance IBM's hybrid cloud platform by integrating Nordcloud's tools and methodologies. The transaction is expected to close in Q1 2021, with financial details undisclosed.
IBM (NYSE: IBM) has launched the IBM Security Homomorphic Encryption Services, enabling companies to experiment with fully homomorphic encryption (FHE). This advanced technology allows data to remain encrypted during processing, addressing security vulnerabilities in cloud environments. With FHE, sensitive data can be analyzed without exposing it, aligning with compliance and privacy regulations. The service includes expert support, a testing environment, and tools for developing applications leveraging FHE, which Gartner predicts will see a budget increase to 20% by 2025 from less than 1% today.
IBM has elected Arvind Krishna as chairman of the board, effective January 1, 2021. Krishna, who is also the CEO, succeeds Virginia M. Rometty, retiring on December 31, 2020. Since becoming CEO in April 2020, Krishna has led significant changes, including the planned spin-off of IBM's $19 billion Managed Infrastructure Services business in 2021, aimed at enhancing its focus on hybrid cloud and AI platforms. Rometty, who served as CEO and chairman since 2012, executed strategic transformations, including the $34 billion Red Hat acquisition, positioning IBM for future market leadership.
IBM has acquired Montreal-based fintech company Expertus Technologies, enhancing its position as a digital payments solution provider. This acquisition strengthens IBM's hybrid cloud and AI strategy, allowing for improved payment operations and treasury management.
Expertus' platform processes over $50 billion daily across 1,000 entities globally, providing IBM with crucial consulting expertise in payment modernization. This move taps into the $100 billion consulting opportunity in banking and financial markets, expanding IBM's capabilities to meet evolving regulatory demands and customer needs.
On December 15, 2020, IBM announced its membership with the Alliance to End Plastic Waste as a Supporting Member. This collaboration aims to develop the Plastics Recovery Insight and Steering Model (PRISM), a data platform hosted on IBM Cloud to track plastic waste globally. The platform will provide actionable data for stakeholders to improve waste management. The Alliance targets USD 1.5 billion over five years to fund projects that create value from plastic waste, with 14 global initiatives currently in progress.
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