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What's Going On With IBM Stock Thursday?

Benzinga·
What's Going On With IBM Stock Thursday?

IBM stock rose 2.65% Thursday, driven by broader technology sector gains and two major company announcements. IBM and Red Hat launched Project Lightwell, a $5 billion AI-powered open source security initiative with participation from major financial institutions. Additionally, IBM announced plans to invest over $10 billion through 2029 to expand quantum computing leadership and deliver a large-scale fault-tolerant quantum computer by 2029. The stock is trading 13% above its 20-day moving average with improving momentum, though analysts note a mixed profile with strong quality but weak momentum metrics.

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