IBM's Quantum Leap and Cybersecurity Push Boost Long-Term Prospects
IBM's recent financial results showed weaker-than-expected numbers due to reduced spending on some of its offerings, but the company has been making promising moves in cybersecurity and quantum. Big Blue invested $32 million in start-up Orion Security, which develops AI-driven contextual data security solutions.
The investment will allow IBM to harness Orion's technology at favorable prices and resell it at high margins to customers. In addition, IBM allocated $5 billion to help find and fix vulnerabilities in open-source software packages used throughout the business world.
In the quantum space, IBM recently reported a milestone where it used quantum to explore the physics of materials beyond classical simulations. This achievement could lead to better and ultrafast optoelectronics, light-induced superconductors, and other advanced materials applications.