IBM Stock Soared 12% Higher in January. Here's How.

Shares of International Business Machines (IBM -0.59%) rose by 12.3% in January 2024, according to data from S&P Global Market Intelligence. The centennial computing giant soared on the wings of a stellar earnings report, indicating that Big Blue's fundamental bet on cloud computing and artificial intelligence (AI) is starting to pay off.IBM's AI-driven business boostThe raw numbers in IBM's earnings report weren't exactly spine-tingling. Revenue increased 4.1% year over year to $17.4 billion, edging out t ...