By Radek Strnad
Publication Date: 2026-06-02 02:32:00
What Happened?
Shares of technology and consulting giant IBM (NYSE:IBM) jumped 6% in the afternoon session after the company was named a partner for Nvidia’s new Vera Rubin AI accelerators, designed to power advanced AI systems.
IBM’s role will span system building, cloud services, and secure AI storage infrastructure. The rally was also supported by a broader upswing in software stocks after Nvidia’s CEO, Jensen Huang, eased fears that AI would disrupt the industry. This improved sentiment helped lift enterprise software companies.
Additionally, Barclays initiated coverage on IBM with an “Overweight” rating. The move also came amid growing investor enthusiasm for the company’s long-term push into quantum computing, which is backed by a $10 billion, five-year commitment.
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What Is The Market Telling Us
IBM’s shares are somewhat volatile and have had 10 moves greater than 5%…
