INTERNATIONAL BUSINESS MACHINES (IBM) Company Report

IBM and Cisco intend to design a network of large-scale, fault-tolerant quantum computers, aiming for a proof-of-concept demonstration by the end of 2030 that entangles qubits across separate systems.
The partnership will develop critical hardware components—including microwave-optical transducers and a quantum networking unit (QNU)—to link quantum processing units within and between data centers.
Cisco will build a high-speed software protocol to dynamically distribute entanglement on demand, while IBM explores long-distance qubit transmission and co-funds academic research to advance the quantum ecosystem.

Nov 20, 2025, 11:00 AM

Press Release

IBM unveils new quantum processors and fault-tolerance roadmap

IBM

Product Launch

New Projects/Investments

IBM introduced the Quantum Nighthawk processor with 120 qubits and 218 tunable couplers, enabling circuits with 30 percent more complexity and up to 5,000 two-qubit gates, aiming for quantum advantage by end of 2026.
IBM, Algorithmiq, the Flatiron Institute and BlueQubit launched an open quantum advantage tracker with three community experiments to validate emerging quantum-advantage claims.
Qiskit now supports dynamic circuits that boost accuracy by 24 percent at scales of 100+ qubits and an HPC-powered error-mitigation model that cuts result-extraction costs by over 100×.
The experimental Quantum Loon processor demonstrated all key components for fault-tolerant computing—including multi-layer routing and qubit-reset capabilities—and real-time qLDPC error decoding in under 480 nanoseconds, a year ahead of schedule.
Transitioning to 300 mm wafer fabrication at Albany NanoTech has doubled R&D speed and achieved a ten-fold increase in quantum chip complexity, accelerating processor development.

Nov 12, 2025, 11:00 AM

Press Release

IBM ranks as second most crowded large-cap short in October

IBM

Technology securities comprised 23.33% of global short positions in October, a 17% increase month-over-month, with IBM ranking as the second most crowded large-cap short in the Americas (Crowdedness Score: 97).
Consumer securities led global short activity, accounting for 41% of positions (up 15% from September).
The report assesses short interest using three metrics—Hazeltree Crowdedness Score, Institutional Supply Utilization, and Community Borrow Fee—to gauge market dynamics.

Nov 5, 2025, 3:30 PM

Press Release

IBM to cut thousands of jobs in Q4

IBM

Layoffs

Revenue Acceleration/Inflection

IBM will cut thousands of jobs in Q4, representing a low single-digit percentage of its ~270,000 workforce, as part of a shift toward higher-growth AI consulting, software and cloud services.
CFO Jim Kavanaugh said 80% of IBM’s AI consulting and software customers are new over the last six months, indicating accelerating AI adoption.
Jefferies reported AI consulting and software bookings rose to $9.5 billion in Q3, while Q3 sales grew 9% to $16.33 billion, surpassing forecasts.
Earlier in 2025, IBM replaced several hundred HR workers with AI but saw overall headcount rise after hiring additional programmers and sales staff.

Nov 4, 2025, 8:02 PM

Bloomberg

IBM implements NVIDIA AI Data Platform with Fusion

IBM

Product Launch

IBM Fusion delivered one of the first implementations of the NVIDIA AI Data Platform reference design, featuring NVIDIA RTXPRO 6000 Blackwell GPUs, NVIDIA Networking, and NVIDIA AI Enterprise software.
UT Southwestern Medical Center is the inaugural client deploying this design, enabling large-scale AI model training and rapid semantic query responses.
The solution integrates enterprise storage with accelerated computing to continuously process, index, and vectorize unstructured data for AI-ready applications.
Highlighted use cases include drug discovery acceleration with NVIDIA BioNeMo, patient digital avatars, and the Helixa AI Assistant for researchers.

Nov 4, 2025, 1:00 PM

Press Release

IBM announces defense-focused AI model

IBM

Product Launch

IBM announced the general availability of the IBM Defense Model, a defense-specific AI model developed in collaboration with Janes to accelerate mission planning and decision support.
The model is optimized for air-gapped and classified environments, built on IBM’s Granite foundation models, which hold ISO 42001 certification for AI governance.
It integrates continuous defense intelligence from Janes and supports use cases such as mission planning, analyst reporting, wargaming, and simulation.

Oct 29, 2025, 12:00 PM

Press Release

IBM reports Q3 2025 results

IBM

Earnings

Revenue Acceleration/Inflection

Guidance Update

IBM delivered 7% revenue growth in Q3, the highest in several years, with all segments accelerating sequentially.
Software revenue rose 9% YoY to an ARR of $23.2 bn, led by Automation +22%, Red Hat +12% revenue, and OpenShift ARR $1.8 bn (+30%).
Infrastructure grew 15%, driven by IBM Z’s 59% revenue increase on z17, and Consulting returned to growth with 2% revenue growth.
Generated $7.2 bn free cash flow in the first nine months (record nine-month margin) and raised full‐year FCF guidance to ~$14 bn, with operating pre‐tax margin expansion now over 1 pp.

Oct 22, 2025, 9:00 PM

Transcript

IBM reports Q3 2025 results

IBM

Earnings

Guidance Update

Dividends

IBM delivered $16.3 billion in revenue, up 9% year-over-year (7% constant currency).
Gross profit margin improved to 57.3% GAAP (+1.1 pts) and 58.7% non-GAAP (+1.2 pts); generative AI book of business exceeds $9.5 billion.
Year-to-date, net cash from operating activities was $9.2 billion and free cash flow $7.2 billion.
Raised full-year 2025 outlook to >5% constant-currency revenue growth and ~$14 billion free cash flow; declared a $1.68 per share quarterly dividend.

Oct 22, 2025, 8:13 PM

8-K

IBM announces third-quarter 2025 results

IBM

Earnings

Guidance Update

Dividends

IBM reported Q3 revenue of $16.3 billion, up 9% year-over-year (7% at constant currency) with all segments contributing to growth.
Software revenue reached $7.2 billion (+10% Y/Y, +9% CC), Consulting was $5.3 billion (+3% Y/Y, +2% CC) and Infrastructure hit $3.6 billion (+17% Y/Y, +15% CC).
In Q3, IBM generated $3.1 billion of net operating cash flow and $2.4 billion of free cash flow; year-to-date free cash flow is $7.2 billion.
The company raised its full-year outlook to >5% constant-currency revenue growth and approximately $14 billion of free cash flow.
IBM declared a $1.68 per-share quarterly dividend, payable December 10, 2025.

Oct 22, 2025, 8:08 PM

Press Release

IBM projects QCaaS market to reach USD 74.36 Billion by 2033

IBM

New Projects/Investments

The QCaaS market is estimated at USD 4.35 Billion in 2025 and is forecast to grow to USD 74.36 Billion by 2033, at a 42.60% CAGR from 2026–2033.
The U.S. QCaaS segment is expected to expand from USD 1.43 Billion in 2025 to USD 22.18 Billion by 2033, registering a 40.92% CAGR.
Rapid enterprise adoption, cloud-based deployments, and increased investment in quantum hardware and software are key growth drivers.
In June 2025, IBM announced plans to build the world’s first large-scale, fault-tolerant quantum computer at its Poughkeepsie, NY, data center.

Oct 21, 2025, 2:00 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for INTERNATIONAL BUSINESS MACHINES.

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