IBM tops quarterly estimates on hybrid cloud growth (opens in new tab)

IBM beat first-quarter profit estimates on Wednesday as artificial intelligence adoption boosted demand for its software services used ‌for managing large amounts of data and automating IT processes. Enterprise demand for generative AI and hybrid ​cloud, which lets companies run applications and store data across their own data centers and public clouds, is surging as businesses automate workflows. IBM's software segment, anchored by its high-margin hybrid cloud unit Red Hat, and a suite of ‌...