WS #12048
IBM shares plunge ~23-25% after preliminary Q2 revenue of $17.2B misses estimates, attributed to customers shifting spending to chips/servers amid AI shortages, dragging down software peers and dampening the AI monetization thesis for legacy tech. New York becomes first state to impose a one-year moratorium on hyperscale datacenters, citing energy and environmental concerns, bearish for datacenter REITs and AI infrastructure in the state. Nvidia and Mitsubishi Heavy Industries are considering a partnership on AI data center cooling and power systems, a minor positive for NVDA and energy efficiency plays.
IBM Earnings Miss and Tech Selloff
IBM shares plunge ~23-25% after preliminary Q2 revenue of $17.2B misses estimates, attributed to customers shifting spending to chips/servers amid AI shortages, dragging down software peers and dampening the AI monetization thesis for legacy tech.
New York becomes first state to impose a one-year moratorium on hyperscale datacenters, citing energy and environmental concerns, bearish for datacenter REITs and AI infrastructure in the state.
Nvidia and Mitsubishi Heavy Industries are considering a partnership on AI data center cooling and power systems, a minor positive for NVDA and energy efficiency plays.