According to CNBC, IBM CEO Arvind Krishna said only 2% of the company’s software could be replaced by applications built with artificial intelligence models as he sought to reassure investors after weaker second-quarter results. He said IBM’s software helps customers prepare for AI, manage data in real time and operate across hybrid infrastructure, and argued that this category of infrastructure software should support the company.
Krishna also said Starbucks spends about $2 million a year on IBM software and is removing Tririga lease management software, which IBM bought in 2011 and plans to support until 2027. IBM shares are down about 30% this year, while the iShares Expanded Tech-Software Sector Exchange-Traded Fund (IGV) has fallen 17%.
IBM CEO Says Only 2% Of Software Could Be Replaced By AI Applications
2026-07-23 19:22:43
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