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Cyprus Mail20 Jul 2026

Spending on AI infrastructure hits IBM software sales

Spending on AI infrastructure hits IBM software sales

IBM said it had “faltered” in keeping pace with a shift in corporate spending from software to data-center infrastructure ‌and would take a big earnings hit in the second quarter, in the clearest sign yet of AI’s growing toll on the sector.

IBM’s shares tanked 25 per cent on July 14, putting the stock on track for an even steeper single-day decline than it suffered during the 1987 “Black Monday” crash. Other software stocks also fell....

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