IBM Shares Jump 12.6% After $10 Billion Quantum Computing Bet
Updated
Updated · Barchart · May 30
IBM Shares Jump 12.6% After $10 Billion Quantum Computing Bet
1 articles · Updated · Barchart · May 30
IBM stock surged 12.6% on May 29 after the company unveiled a $10 billion quantum computing investment backed by CHIPS Act funding.
Enterprise AI spending optimism added to the rally, extending a three-month gain to 24% and pushing the shares back above their 50-day and 200-day moving averages.
At a $214.4 billion market value, IBM remains up 14.4% over 12 months, though that still trails the First Trust Cloud Computing ETF's 25.3% rise.
IBM has still outperformed rival Accenture, whose shares fell 40.8% over the past year, while analysts rate IBM a Moderate Buy even with the stock above its $293.45 average target.
With quantum advantage now achieved, how will IBM monetize its $10B investment before rivals close the gap?
As America builds its first quantum foundry, can it secure the supply chain to maintain its lead in the global tech race?
As quantum computers threaten current encryption, what is the plan to protect global data from this emerging security crisis?