International Business Machines will buy HashiCorp in a deal valued at $6.4 billion, the company said on Wednesday, expanding its cloud-based software...
- International Business Machines will buy HashiCorp in a deal valued at $6.4 billion, the company said on Wednesday, expanding its cloud-based software products to tap into an AI-powered boom in demand.
IBM, which separately reported first-quarter adjusted profit above Wall Street estimates, has doubled down on its cloud business as it becomes increasingly necessary to store and process the vast amounts of data employed in artificial intelligence programs.The Big Blue's "AI book of business" crossed $1 billion in the first quarter, growing sequentially. The book comprises actual sales and bookings from various offerings.
"The deal provides a cloud infrastructure automation growth engine for IBM," Stephen Elliot, a vice president at market research firm International Data Corp, said on Tuesday, following reports of the talks.Software revenue grew 5.5% in the first quarter while the consulting segment was flat. Total revenue of $14.46 billion fell just short of LSEG estimates of $14.55 billion.
The company reported adjusted earnings of $1.68 per share for the quarter ended March, compared to analysts' average estimate of $1.60.Here are four stocks that you can buy and hold for decades in your TFSA. The post TFSA: 4 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.These three Canadian stocks are highly reliable and have tremendous long-term growth potential, making them some of the best to buy now.
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