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AI Computing Power Demand Siphons Away Customers, IBM's Market Value Plummets by $46 Billion: What Did the CEO's Open Letter Say?
1 week ago /
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Author：小编
On July 15, Business Insider reported that IBM's stock price plummeted by over 25% on Tuesday, marking the largest single-day decline in its history, with a market value loss of $69 billion. This followed IBM's profit warning, stating that customer spending is shifting from software to AI hardware and memory chips. IBM's second-quarter revenue was $17.2 billion, up only 1% year-on-year, falling short of expectations, with infrastructure business revenue declining by 7%. IBM's CEO attributed the reasons to the failure to close large deals and the shift in customer spending.
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