Stocks
IBM Stock Rises as UniCredit Partnership Targets AI Banking Growth
IBM's stock price rose by 0.86% to $223.65 on Friday, following a major technology agreement between UniCredit, Accenture, and IBM in thirteen European markets.
The partnership aims to modernize banking systems, expand cloud and data capabilities, and increase the use of artificial intelligence across Europe.
UniCredit plans to create a new technology operating model with support from Accenture and IBM, which will improve flexibility and resilience in essential banking operations.
Accenture will acquire IBM's majority stake in the joint venture managing much of UniCredit's technology infrastructure, giving it a larger operating role within the bank's multi-year transformation programme.