IBM Shares Plummet Amid Quantum Computing Gains
International Business Machines (IBM) shares dropped by 2.4% during trading on Thursday, reaching as low as $226.01 before closing at $227.07.
The total number of shares traded was approximately 4,069,369, which is a decline of 47% from the average session volume of 7,657,924 shares.
Despite this recent dip in value, IBM has been making strides in the field of AI and quantum computing. The company expanded its partnership with Marist University through an AI Innovation Incubator, providing access to mainframe technology, quantum-computing resources, and enterprise expertise.
Additionally, IBM introduced Swift blockchain connectivity for its Digital Asset Haven platform and on-premises deployment option, which could appeal to banks, governments, and other regulated customers that require security, control, and support for tokenized deposits and digital assets.