Core Insights - IBM's mainframe business is thriving, recording its best fourth-quarter revenue in over 20 years with a 61% year-over-year increase, adjusted for currency [2] - The mainframe systems are crucial for industries requiring high reliability and security, with 71% of Fortune 500 companies utilizing them [3] Group 1: Financial Performance - IBM's mainframe revenue surged 61% year-over-year, contributing to a 17% increase in the infrastructure segment [2] - The mainframe business is a significant part of IBM's overall strategy, showcasing resilience and growth in a competitive market [1] Group 2: Market Presence - Over 90% of installed mainframe systems are from IBM, with 92% of large financial institutions and 63% of government agencies relying on these systems [3] - Mainframes process over 87% of global credit card transactions, highlighting their importance in financial operations [3] Group 3: Technological Advancements - The latest z17 mainframe systems are designed for the AI era, capable of handling over 250 AI use cases and performing up to 450 billion AI inferencing operations per day, a 50% increase from its predecessor [5] - IBM's z17 mainframe systems have an average response time of just one millisecond, making them suitable for real-time applications [5] Group 4: Future Outlook - IBM anticipates a shift in the AI inferencing market, predicting that in three to five years, 50% of enterprise AI usage will occur in private clouds or on-premises data centers [7] - The company is also enhancing its mainframe capabilities with the Spyre AI accelerator, allowing for more powerful AI model execution [6]

Core Insights - IBM's stock experienced a 5% increase following the release of strong Q4 earnings, with a 12.2% year-over-year revenue growth reaching $19.69 billion, surpassing market expectations [2][6] - The company anticipates over 5% constant-currency revenue growth in 2026, with a projected $1 billion increase in free cash flow from the 2025 base of $14.7 billion [2][4] Financial Performance - IBM reported a significant constant-currency growth in Q4, marking its best performance in over three years [2][6] - The company's market capitalization is approximately $286.68 billion, with a trading volume of 5,910,529 shares [5] Growth Strategy - IBM's growth strategy for FY26 is primarily driven by its Software segment, expected to grow by approximately 10%, supported by organic expansion and advancements in GenAI [3][4] - In Q4, the Software segment's revenue grew by 11% in constant currency, with notable momentum in Data and Automation [3][6] Stock Valuation - Despite positive developments, IBM's GF Value is noted at $198.37, indicating that the stock is significantly overvalued [4] - The current stock price is $306.70, reflecting a decrease of $2.54, or -0.82% [5]

Core Viewpoint - The article discusses the ambitious verification program by the U.S. Defense Advanced Research Projects Agency (DARPA) aimed at redefining the global quantum computing competition, focusing on the practical commercial and military value of quantum computing by 2033 [2][4]. Group 1: DARPA's Quantum Benchmarking Program - DARPA's quantum benchmarking program has advanced 11 companies to the second phase, requiring them to demonstrate the development of cost-effective practical quantum computers by 2033 [2][3]. - The program emphasizes a rigorous three-phase verification mechanism, addressing long-standing information asymmetries in the quantum technology field [7]. - The program integrates previous DARPA projects, focusing on both the potential impact of quantum computing and the feasibility of hardware, providing a comprehensive technical assessment framework [7]. Group 2: Diversity of Technologies and Geopolitical Considerations - The companies advancing to the second phase represent a diverse range of quantum hardware technologies, including superconducting qubits, ion traps, and photonic computing [11]. - The strategy of supporting multiple technological paths reflects a fundamental difference from traditional computing, where a dominant architecture emerged [11]. - The inclusion of non-U.S. companies in the program highlights the U.S. strategy of forming international alliances in quantum technology, enhancing the resilience and innovation capacity of the Western quantum technology supply chain [11]. Group 3: Strategic Value and Global Standards - The program underscores the dual-use strategic value of quantum computing, where even non-industrial-grade quantum computers could serve defense interests, such as running instances of Shor's algorithm for cryptanalysis [12]. - DARPA's benchmarking program is not just a technical validation mechanism but also a tool for the U.S. to assert its influence in global quantum technology governance by establishing performance standards [16]. - The differing approaches between the U.S. and China in quantum technology standardization reflect their respective innovation systems, with the U.S. relying on market competition and verification, while China focuses on national strategic planning [19].

ARMONK, N.Y., Jan. 30, 2026 /PRNewswire/ -- The IBM (NYSE: IBM) board of directors has elected Ramon L. Laguarta to the board, effective March 1, 2026. Ramon L. Laguarta, 62, is the chairman and chief executive officer of PepsiCo. With a strong commitment to performance and leadership, Mr. Laguarta has led PepsiCo, a global food and beverage leader, since 2018. He has played a pivotal role in PepsiCo's portfolio and cultural transformation. Arvind Krishna, IBM chairman, president and chief executive office ...

Blackstone Inc. - Blackstone reported fourth-quarter distributable earnings per share of $1.75, a 4% increase year-over-year, surpassing the analyst consensus estimate of $1.53 [2] - Distributable earnings rose 3% year-over-year to $2.24 billion for the quarter [2] - Segment revenues were reported at $3.94 billion, down 5% year-over-year, but still beating the analyst consensus estimate of $3.72 billion [2] - Blackstone shares fell 2.6% to close at $142.94 on Thursday [6] International Business Machines Corporation (IBM) - IBM reported fourth-quarter revenue of $19.69 billion, exceeding the consensus estimate of $19.23 billion [3] - The company reported adjusted earnings of $4.52 per share, beating analyst estimates of $4.32 per share [3] Cisco Systems, Inc. - Cisco Systems was upgraded from In-Line to Outperform by Evercore ISI Group analyst Amit Daryanani, with a price target increase from $80 to $100 [4] - Cisco shares fell 0.7% to close at $78.43 on Thursday [6] Exxon Mobil Corporation - Exxon Mobil reported quarterly earnings of $1.71 per share, beating the consensus estimate of $1.67 [5] - The company posted revenue of $82.3 billion, surpassing the estimate of $81.47 billion [5] - Exxon Mobil shares rose 2.1% to settle at $140.51 [6]

本文源自：金融界AI电报 1. 1月30日(周五)美股盘前，美股三大股指期货齐跌。截至发稿，道指期货跌0.35%，标普期货跌 0.34%，纳指期货跌0.44%。 2. 截至发稿，欧洲股市主要指数齐涨。欧洲斯托克50指数涨1.04%，英国富 时100指数涨0.5%，法国CAC40指数涨0.8%，德国DAX30指数涨0.96%。 3. 截至发稿，WTI原油跌 0.64%，报65.0美元/桶。布伦特原油跌0.69%，报69.11美元/桶。纽交所黄金跌3.69%，报5157.2美元/盎 司。 市场消息 1、特朗普正式提名沃什执掌美联储，CME数据显示美联储到6月累计降息25个基点概率 达48.3%，货币市场押注美联储今年将累计降息超过两次且每次25个基点。 2、芝加哥期权交易所波动 率指数接近盘中低点，报17.80点。 3、印尼金融监管机构负责人辞职，为印尼股市抛售承担责任。 4、 印度外汇储备增至创纪录的7094.1亿美元（截至1月23日）。 5、以色列将于周日重新开放加沙与埃及之 间的拉法口岸。 6、伊朗外交部长表示伊朗的导弹问题绝不会成为谈判议题，已为战争或外交两种情况 做好准备，希望就有尊严的谈判达成框架协议 ...

Core Insights - The article does not provide any specific information or insights regarding a company or industry [1] Summary by Categories - No relevant content available for summarization [1]

伯恩斯坦：将IBM(IBM.N)目标股价从280美元上调至330美元。 本文源自：金融界AI电报 ...

Market Overview - U.S. stock markets are expected to open lower due to a tech-led sell-off and ongoing corporate earnings digestion [1] - Nasdaq 100 futures declined 1.06%, S&P 500 futures fell 0.86%, and Dow futures slipped 0.81% [2] - Precious metals, including gold, saw significant declines, with gold's price dropping 2.8% to $5,205 per ounce [2] - Oil prices have also retreated amid easing geopolitical tensions in the Middle East [2] Major Market Indexes - On January 29, 2026, the S&P 500 closed down 0.1% at 6,969.01 after nearing its all-time high [3] - The Dow Jones Industrial Average gained 55.96 points, or 0.1%, finishing at 49,071.56 [3] - The Nasdaq Composite fell 0.7% (172.33 points) to 23,685.12, indicating a shift towards defensive sectors [3] Economic Data and Events - Key economic data releases today include the January jobs report, focusing on payroll growth, unemployment rates, and average hourly earnings [4] - Upcoming data includes the January ISM manufacturing index, December job openings, and housing starts [4] - Japan's Tokyo CPI is also being monitored as a leading indicator for national inflation trends [4] Federal Reserve Appointment - Anticipation surrounds President Trump's nomination of Kevin Warsh as the next Federal Reserve chair, which could lead to rising U.S. Treasury yields [5] - Warsh is known for his inflation hawk stance and criticism of the Fed, potentially signaling a shift in monetary policy [5] Corporate Earnings and Stock Movements - Major companies reporting earnings include Exxon Mobil, Chevron, American Express, Verizon, and Regeneron Pharmaceuticals [6] - Microsoft experienced a 10% drop despite strong quarterly results, as investors focused on future growth and investments [7] - Tesla's stock fell 3.5% despite exceeding profit expectations, with CEO Elon Musk redirecting focus to future ventures [11] - Sandisk Corporation surged over 19% in premarket trading after reporting exceptional earnings driven by AI demand [11] - Apple reported a 16% year-over-year revenue increase but saw flat premarket trading [11] - Southwest Airlines stock rose 18.7% despite missing profit forecasts, buoyed by an optimistic earnings outlook [11] - IBM's stock climbed 5.1% after surpassing profit and revenue expectations [11] - ServiceNow dropped 9.9% despite reporting stronger-than-expected profits [11] - Texas Instruments saw a market surge of over 7% following a favorable capital return strategy [11] - Other notable premarket movers include Deckers Outdoor Corporation up 12.71% and ResMed Inc. up 3.95% [11]

Group 1 - The core viewpoint is that AI is disrupting traditional software businesses, with infrastructure software companies like IBM standing out positively [1] - Melius Research's Ben Reitz maintains a "buy" rating for IBM with a target price of $390, citing the company's organic growth in software business accelerating quarter-over-quarter [1] - Reitz emphasizes that infrastructure software companies will outperform traditional software vendors, which are threatened by generative AI tools [1] Group 2 - IBM's disciplined capital allocation is highlighted, demonstrating its ability to utilize free cash flow for acquisitions that enhance its infrastructure software business [2] - The company's efforts in quantum computing are noted as a long-term catalyst that has not yet been reflected in its stock price [2] - Reitz concludes that IBM is one of the few attractive options in the software sector, which lacks configurable assets outside of IBM and a few other companies [2]