IBM's Generative AI Business Surges Past $2 Billion
Revenue Growth Expected to Accelerate
IBM has secured over $2 billion in generative AI contracts, indicating a significant milestone for the tech giant. Despite its long history in AI innovation, IBM has traditionally faced challenges in monetizing its AI offerings.
AI Business Scales, Revenue Growth Projected
As IBM's AI business continues to scale, analysts anticipate an acceleration in its revenue growth. The company had previously projected mid-single-digit growth; however, the surge in generative AI contracts could lead to a more rapid expansion.
Generative AI Foundation Models in Development
IBM is actively developing generative foundation models, focusing on trustworthiness, energy efficiency, and portability. These models are vital for enhancing the accuracy, reducing the computational cost, and ensuring the wide applicability of generative AI.
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