IBM CEO's statement that wiped away $70 bn has added millions for cybersecurity firm

IBM CEO Arvind Krishna noted advanced AI concerns are causing companies to pause technology deals. Businesses are now rethinking cybersecurity spending priorities as AI evolves rapidly. IBM's preliminary second-quarter results missed Wall Street expectations, causing shares to fall. Cybersecurity stocks, however, surged as investors anticipated increased spending on protection. Krishna acknowledged IBM did not adapt quickly enough to market shifts.

By TOI TECH DESK