Infrastructure, software drive IBM Q3 growth

Core Insights - IBM is focusing on enterprise AI spending by leveraging its hybrid cloud business and mainframe line for AI workloads [3][4] - The company has consolidated its AI and data products under the watsonx brand, but faces challenges in developer mindshare compared to hyperscalers [5] - Future bookings for AI services indicate strong customer demand, with a reported $9.5 billion in generative AI business [5] Financial Performance - IBM reported $16.3 billion in revenue for Q3, marking a 9% year-over-year growth, the highest increase in recent years [7] - The largest revenue increases were seen in the infrastructure and software segments, driven by demand for automation services and the Z mainframe series [7] - CEO Arvind Krishna noted broad-based client demand despite macro uncertainties [7] Product Development - IBM introduced Project Bob, an AI-optimized integrated development environment that automates software development tasks [6]