IBM shares plunge 25% as AI spending boom disrupts business

🌐 New Zealand Herald (NZ) —
IBM shares plunge 25% as AI spending boom disrupts business

AI Summary

IBM's stock dropped 25% following CEO Arvind Krishna's admission that the company did not adapt quickly enough to the AI spending boom disrupting its business model. This highlights challenges faced by legacy tech firms in keeping pace with rapid AI advancements.

CEO Arvind Krishna admitted the tech giant ‘did not adapt quickly enough’.

Markets Deals AI & Tech IBM AI spending stock plunge tech industry Arvind Krishna

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