IBM shares plunge as AI spending boom disrupts business
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Source: The Manila Times
Published: 2026-07-15 07:03 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Transport, Technology & AI, Tax & Budget, World News, US Politics, Business & Economy, Technology
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Snippet:
WASHINGTON — Shares in IBM plunged 24 percent on Tuesday after the US tech giant released disappointing preliminary second-quarter results, blaming a shift in spending by customers due to expected higher prices for memory chips and other AI-related infrastructure.
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