IBM CEO Arvind Krishna on letter that sent stock down 25%, ‘worst day’ in history

The CEO of IBM took the bold step of revealing a financial deficit to stakeholders, triggering a notable decline in stock prices. This transparency caused clients to halt infrastructure advancements in favor of buying data center hardware. Krishna noted that distractions from rising AI trends and supply limitations were crucial factors. He is convinced that promptly revealing issues enables a sharper focus on strategic remedies.

By TOI TECH DESK