IBM and Red Hat Invest $5 Billion in Cybersecurity Initiative
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 20 hours ago
0mins
Source: Newsfilter
- Cybersecurity Investment: IBM and Red Hat are investing $5 billion to address vulnerabilities in open-source software through a new cybersecurity initiative, demonstrating a strong commitment to protecting the open-source ecosystem.
- Key Driving Factor: CEO Arvind Krishna highlighted that Anthropic's Mythos was the 'critical triggering factor' for this investment, indicating the potential of large language models in identifying and exploiting code vulnerabilities.
- Industry Collaboration: Major U.S. banks, including Goldman Sachs, Morgan Stanley, JP Morgan, and Bank of America, have signed on as early adopters of the project, utilizing the latest tools to identify potential vulnerabilities, thereby enhancing IBM's influence in the financial services sector.
- Engineer Allocation: IBM and Red Hat are dedicating 20,000 software engineers to assist partners in securing software, with Krishna emphasizing that this will complement existing cybersecurity firms, enhancing overall security capabilities.
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Analyst Views on IBM
Wall Street analysts forecast IBM stock price to rise
16 Analyst Rating
11 Buy
4 Hold
1 Sell
Moderate Buy
Current: 264.220
Low
210.00
Averages
315.80
High
375.00
Current: 264.220
Low
210.00
Averages
315.80
High
375.00
About IBM
International Business Machines Corporation is a provider of global hybrid cloud and artificial intelligence (AI) and consulting expertise. The Company’s segments include Software, Consulting, Infrastructure and Financing. The Software segment includes hybrid cloud and AI platforms, which allow clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment focuses on integrating skills on strategy, experience, technology and operations by domain and industry. The Infrastructure segment is focused on the hybrid cloud infrastructure market, providing on-premises and cloud-based server and storage solutions. In addition, it offers a portfolio of life-cycle services for hybrid cloud infrastructure deployment. The Financing segment provides client and commercial financing, facilitating its clients’ acquisition of hardware, software and services. It helps clients in more than 175 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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