IBM Stock Jumps Nearly 4% on Quantum Acquisition and New Mainframe Chip

IBM's stock price jumped nearly 4% to $239 in morning trading on Thursday after the company completed its acquisition of HRL Laboratories LLC and unveiled a new mainframe processor. The company said the deal brings together complementary expertise in quantum computing, quantum sensing, advanced communications, electronics, manufacturing, and materials science.

The acquisition follows IBM's announcement earlier this month that it had connected and cooled two modular cryogenic systems in a single environment, a step towards larger, more reliable quantum machines. Management has outlined a multi-year quantum investment plan and longer-term targets for fault-tolerant systems.

Investors also continued to parse IBM's unveiling of a next-generation dual-architecture processor for future IBM Z and LinuxONE systems. The chip is designed to support both IBM and Arm-based operating systems and applications, with commercial impact expected to arrive over time rather than in the current quarter.