International Business Machine Corp.’s acquisition of software company Red Hat last year helps underpin the technology and economics behind IBM’s decision to restructure. “Red Hat gave us the confidence to do all of this,” IBM Chief Executive Arvind Krishna told The Wall Street Journal. We are only 4 percent of the way into the AI journey,” Mr. Krishna said. Red Hat, which IBM bought for about $33 billion, is key to what Mr. Krishna called the latest enduring platform in the company’s 109-year history. The latest platform is a bet that customers will rely on multiple cloud services, which it calls the hybrid cloud.

Source: Wall Street Journal October 08, 2020 22:52 UTC