Group 1 - IBM's AI order book has shown significant growth, increasing from $2 billion in summer 2024 to $7.5 billion by Q2 2025, excluding other AI services [2] - The company's revenue growth is at levels not seen since 2011, with stock gains of 27% over the past year and 114% over three years, starting from a low valuation in 2022 [3] - Despite recent stock performance, IBM's shares are still considered affordable, trading at 22.7 times forward earnings and 20.7 times trailing free cash flow, compared to the S&P 500 averages of 24 and 29.9 respectively [6][7] Group 2 - The momentum in the AI market is driving IBM's stock performance, suggesting that it may still be a good time to invest despite the rising prices [4]