IBM: AI Operating Model and Quantum Chip Foundry Drive Comeback

The recurring software business grew to USD 24.6 billion
The cautious forecast confirmation offers surprise potential
Andreas Zehetner
A. Zehetner
Reading Time: 2 minutes

International Business Machines (IBM) is an interesting candidate for me for several reasons, and I now believe it has the potential to make a comeback to its all-time high. The Middle East conflict recently led to a cautious confirmation of forecasts, while the software outlook for 2026 has been raised to over 10%. Additionally, the mainframe business achieved record growth of 48%, as the new z17 mainframe with local AI inference propels modernization efforts. Furthermore, in the consulting business, over 30% of the order backlog is attributable...

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