IBM continues its efforts to focus its core business on the cloud. It all began with a groundbreaking $ 34 billion acquisition of Red Hat in 2019, followed by a major change of the guard, with Arvind Krishna named as the new CEO after successfully leading the cloud and cognitive software business. Krishna has also been a key catalyst in the Red Hat business and remains committed to keeping IBM focused on the cloud, which now has $ 6.3 billion in revenue, up 30% year over year.
In October 2020 IBM spun From the old technology services business to focus on cloud computing and artificial intelligence. The breakdown reflects how critically computing has shifted to the cloud and how IBM is focused on the cloud market opportunity.
A hybrid approach
IBM’s strategy is to focus on the hybrid cloud Market that enables companies to connect public cloud providers with private cloud infrastructure. Hybrid cloud solutions have decisive advantages …