Surprised to learn IBM had the most U.S. patent applications for #Artificial Intelligence technology over the last five years, beating out Google, Microsoft and everyone else!  Over the past month, IBM's share prices jumped 16%, while Microsoft's stock climbed 11%.  Is IBM the AI stock pick i've been sleeping on?  Are you?  

https://www.ificlaims.com/news/view/ifi-insights-generative-ai.htm 

Artificial Intelligence

Surprised to learn IBM had the most U.S. patent applications for #Artificial Intelligence technology over the last five years, beating out Google, Microsoft and everyone else!  Over the past month, IBM's share prices jumped 16%, while Microsoft's stock climbed 11%.  Is IBM the AI stock pick i've been sleeping on?  Are you?    https://www.ificlaims.com/news/view/ifi-insights-generative-ai.htm

Sam Mendoza

IBM’s revenue grew just 1% to $15 billion in the three months ending in September compared to the year prior, the company said on Thursday. The sluggish growth was primarily due to a slowdown in its consulting business, which makes up more than a third of IBM’s revenue. CFO Jim Kavanaugh attributed that slowdown to the rise of generative AI software across the tech industry, which is causing customers to “reprioritize their IT budgets” without increasing spending.

Kavanaugh said IBM has seen an increase in customers seeking its consulting on generative #Artificial Intelligence  technology, but that those customers are exhibiting caution around how they deploy AI, which is leading to smaller deals. Still, the company is optimistic that AI spending is beginning to grow: IBM’s bookings for AI consulting and software have exceeded $3 billion since the company began tracking them in mid-2023, up from $2 billion in July, Kavanaugh said.

IBM’s software sales for the quarter grew 9.7% to $6.5 billion compared to the same quarter a year prior, and its hardware sales fell 7% to $3.04 billion, which the company attributed to the fact that its current computers have reached the end of their lifecycle and will be replaced with a new model next year.

https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/ibm-posts-soft-revenue-growth-consulting-woes-continue

IBM’s revenue grew just 1% to $15 billion in the three months ending in September compared to the year prior, the company said on Thursday. The sluggish growth was primarily due to a slowdown in its consulting business, which makes up more than a third of IBM’s revenue. CFO Jim Kavanaugh attributed that slowdown to the rise of generative AI software across the tech industry, which is causing customers to “reprioritize their IT budgets” without increasing spending.  Kavanaugh said IBM has seen an increase in customers seeking its consulting on generative #Artificial Intelligence  technology, but that those customers are exhibiting caution around how they deploy AI, which is leading to smaller deals. Still, the company is optimistic that AI spending is beginning to grow: IBM’s bookings for AI consulting and software have exceeded $3 billion since the company began tracking them in mid-2023, up from $2 billion in July, Kavanaugh said.  IBM’s software sales for the quarter grew 9.7% to $6.5 billion compared to the same quarter a year prior, and its hardware sales fell 7% to $3.04 billion, which the company attributed to the fact that its current computers have reached the end of their lifecycle and will be replaced with a new model next year.  https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/ibm-posts-soft-revenue-growth-consulting-woes-continue

INTERNATIONAL Business Machines (IBM) reported underwhelming sales as the company grapples with a slowdown in consulting demand. Read more at The Business Times.

IBM posts soft revenue growth as consulting woes continue

Tasia

McDonalds hired IBM to develop an AI-based drive thru ordering system.

It had a high failure rate, and now McD's is pulling out of the 100+ restaurants they had it installed at.

It both feels obvious that we should be using AI for ordering & that IBM is the wrong vendor.

Somehow I think "Nobody Gets Fired For Buying IBM" doesn't apply anymore.

https://www.businessinsider.com/mcdonalds-ai-voice-order-technology-drive-thrus-2024-6

McDonalds hired IBM to develop an AI-based drive thru ordering system.  It had a high failure rate, and now McD's is pulling out of the 100+ restaurants they had it installed at.  It both feels obvious that we should be using AI for ordering & that IBM is the wrong vendor.  Somehow I think "Nobody Gets Fired For Buying IBM" doesn't apply anymore.  https://www.businessinsider.com/mcdonalds-ai-voice-order-technology-drive-thrus-2024-6

McDonald's partnered with IBM in 2021 to install the technology at dozens of locations. It let customers complete orders using AI voice recognition.

McDonald's is removing its AI drive-thru voice-ordering system from over 100 restaurants after its mishaps went viral

IBM will release AI models as open-source and help Saudi Arabia develop an Arabic AI system.

https://www.reuters.com/technology/ibm-makes-more-ai-models-open-source-lands-saudi-arabia-deal-2024-05-21/

IBM will release AI models as open-source and help Saudi Arabia develop an Arabic AI system.  https://www.reuters.com/technology/ibm-makes-more-ai-models-open-source-lands-saudi-arabia-deal-2024-05-21/

International Business Machines on Tuesday said that it will release a family of artificial intelligence models as open-source software, and that it will help Saudi Arabia train an AI system in Arabic.

IBM makes more AI models open source and lands Saudi Arabia deal

IBM announced its acquisition of software company HashiCorp Inc. for $6.4B, valuing HashiCorp at $35 per share on an enterprise basis. The confirmation of the acquisition coincided with IBM's first-quarter results, revealing a 1% increase in revenue to $14.5B.

https://www.bloomberg.com/news/articles/2024-04-24/ibm-is-said-to-near-deal-for-hashicorp-at-about-35-a-share?srnd=deals

The acquisition is anticipated to strengthen IBM's hybrid cloud platform and align with its emphasis on the #Artificial Intelligence era.

IBM announced its acquisition of software company HashiCorp Inc. for $6.4B, valuing HashiCorp at $35 per share on an enterprise basis. The confirmation of the acquisition coincided with IBM's first-quarter results, revealing a 1% increase in revenue to $14.5B.  https://www.bloomberg.com/news/articles/2024-04-24/ibm-is-said-to-near-deal-for-hashicorp-at-about-35-a-share?srnd=deals  The acquisition is anticipated to strengthen IBM's hybrid cloud platform and align with its emphasis on the #Artificial Intelligence era.

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I’m long.  Despite being more reserved about its AI initiatives compared to other Big Tech companies, IBM seems committed to its research in the field.

I believe IBM will outperform Microsoft through at least the end of this year as unpredictable interest rates and concerns about a brewing AI bubble drive investors toward cheaper and higher-yielding tech stocks again.

Sam Mendoza

A group of likeminded people in The Most Important Thing are talking about this.