July 14, 2026, 5:10 p.m. ET
Artificial intelligence may have already taken a bite out of software this year, but a profit warning from IBM indicates that it’s hardware’s turn to chow down.
As companies with software-as-a-service offerings
struggle to fend off worries that AI will render their business models obsolete, investors have been piling into stocks of companies that make the hardware that is powering the tech transformation.
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