- IBM and partners including Algorithmiq, Qedma, and the University of Chicago reported quantum-computing breakthroughs on IBM Heron-based systems and introduced frameworks to verify the results.
- IBM's preliminary second-quarter report guided to $17.2 billion in revenue and $2.93 in earnings per share, below analyst estimates of $17.86 billion and $3.01, respectively.
- Investors remain divided over whether generative AI will expand IBM's AI business or reduce discretionary enterprise software spending and pressure legacy software providers.
Quotes
“People like quantum. And I know that IBM fell. I know IBM being one of the grave disappointments so far this quarter.”