IBM Fell 25% as Hardware Spending Dominated AI Budgets. Palantir Sells What Runs on Top.
Shares of IBM (IBM +3.65%) fell 25% on July 14 after the company released preliminary second-quarter results. CEO Arvind Krishna explained that customers shifted their spending toward servers, storage, and memory as hardware prices continued to rise. This caused spending delays on numerous large software deals, primarily in its mainframe and transaction-processing business. While enterprise […]