IBM Reports Boost in AI Bookings, Better-Than-Expected Revenue

International Business Machines Corp. reported a jump in bookings for its artificial intelligence business as customers work to implement the latest technology.

Bookings for AI consulting and software have exceeded $2 billion since mid-2023, the company said Wednesday in a statement. That is double the $1 billion book-of-business IBM disclosed during its last quarterly earnings report in April.

About three-fourths of the AI bookings are made up of consulting, with the rest from software, Chief Executive Officer Arvind Krishna said in an interview. Over time, the revenue share from software is likely to increase, he added.

Second-quarter sales increased ...