IBMs

When IBM delivered bad news on Tuesday, CEO Arvind Krishna didn’t look for someone else to blame. He owned it.Krishna, who is widely credited with turning IBM around since becoming CEO in 2020, said in a letter to investors that clients had redirected quarterly capital spending toward scarce infrastructure. Management…

IBM is on pace to have its worst day ever on the stock market after saying it misread the AI spending boom.On Tuesday, eight days before the company’s scheduled earnings call, CEO Arvind Krishna released a letter to shareholders that detailed a quarterly “performance shortfall,” including slimmer-than-expected revenue.”While we anticipated…