What's Going On With IBM Stock Thursday?

International Business Machines Corporation (NYSE: IBM ) stock rose 2.66% Thursday as investors rotated back into large-cap technology stocks and favored more defensive names within the sector. The Nasdaq Composite gained 0.92%, while the S&P 500 advanced 0.57%. IBM’s gains appeared driven more by improving sentiment across the technology sector than by any company-specific catalyst. The Technology Select Sector SPDR Fund (XLK) climbed 1.56%, leading all major sectors. IBM, Red Hat Launch $5 Billion AI-Powered Open Source Security Initiative On Thursday, IBM and Red Hat launched Project Lightwell, a $5 billion initiative focused on securing open source software as AI-driven cyber threats increase. The companies said the project will combine AI-powered vulnerability detection with a global team of more than 20,000 engineers to help enterprises identify, validate and patch security flaws across open source ecosystems. IBM and Red Hat said several major financial institutions, including Goldman Sachs, JPMorganChase and Visa, are already participating in early deployments. “Open source is the backbone of today’s digital economy and the foundation of modern AI,” IBM CEO Arvind Krishna said. Plans Over $10 Billion Quantum Investment By 2029 Separately, IBM said it plans to invest more than $10 billion over the next five years to expand its quantum computing leadership through research, manufacturing, partnerships and acquisitions. The company said the investment ... Full story available on Benzinga.com