IBM's historic stock crash: What triggered the 25% plunge?

IBM shares plunged about 25 percent after the company flagged execution problems, with several large deals failing to close on schedule and management not responding quickly to changing market conditions. The warning raised concerns that the AI boom is benefiting chipmakers and hardware suppliers more than enterprise software vendors, with investors questioning whether software firms could face prolonged pressure if corporate IT budgets stay focused on AI infrastructure. IBM reiterated its long-term AI and quantum strategy, including plans to invest over 10 billion dollars in quantum computing over five years.