IBM shares plunge 25% as AI spending boom hammers business: ‘Ugly moment for software stocks’
The company has been trying to reduce its reliance on the cyclical mainframe business by focusing on its software unit including its high-margin Red Hat business, which helps firms run applications across different cloud providers.
Black News 
The company has been trying to reduce its reliance on the cyclical mainframe business by focusing on its software unit including its high-margin Red Hat business, which helps firms run applications across different cloud providers.
