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Wall Street Journal

IBM Sales Jump as Clients Start Scaling AI

The Company’s Revenue Rose 9% to $16.33 Billion in the Third Quarter

Sales were boosted by higher-than-expected growth in IBM’s consulting business, Chief Financial Officer Jim Kavanaugh said Wednesday. As clients move to the next phase of AI development, demand for IBM’s offerings is increasing, he said. About 80% of IBM’s 300 clients who work with the company for AI-related purposes are new over the past two quarters, Kavanaugh said.

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