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After shocking quarter, IBM insists that AI isn’t killing the mainframe
After IBM's stock crashed last week on warnings of poor mainframe sales, the CEO explained that AI wrecked corporate hardware budget, temporarily.
AI Summary
IBM reported its quarterly earnings, showing $17.2 billion in revenue, $9.9 billion in gross profit, nearly 58 % margins and $2.2 billion in net earnings, but the results fell well short of Wall Street expectations. The company, founded 115 years ago, emphasized that the shortfall was not caused by AI impacting its mainframe business.
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