IBM Stock Rises 1.2% Amid AI Momentum

International Business Machines (NYSE:IBM) rose by 1.2% in mid-day trading on Monday, hitting a high of $228.55 and closing at $226.3260.

The company traded 6,698,775 shares, which is down 19% from its average session volume of 8,250,313 shares.

IBM's latest quarter saw adjusted earnings per share (EPS) of $2.93, meeting analyst expectations, while revenue was $17.16 billion, missing the consensus estimate of $17.46 billion.

Analysts point to AI-related demand and margin expansion as key drivers behind IBM's rally, despite its top-line miss.