I’d heard it was more that they said the AI business had taken the oxygen out of the room for them. Software was getting ignored. I think everyone knew IBM wasn’t an AI player, but them saying AI had a knock on effect for them scared some.
It’s since recovered, but it was one hell of a reaction.
Don’t forget SpaceX. I’d say $123 down from the peak of $211 is a pretty dramatic plunge
And IBM had a 25% loss in a day.
The weird one with IBM is that their stock dropped after they announced they didn’t jump on the AI hype train.
I’d heard it was more that they said the AI business had taken the oxygen out of the room for them. Software was getting ignored. I think everyone knew IBM wasn’t an AI player, but them saying AI had a knock on effect for them scared some.
It’s since recovered, but it was one hell of a reaction.
They’re not a software player anymore either.
That IBM is no more right?
Yeah, they bounced and flattened out to where they were before. I think it just shows that the markets are on a hair trigger right now.
Too much hot money in the market whose owners don’t know where to invest it.