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What's Going On With IBM Shares On Tuesday?

Published 21/05/2024, 14:30
© Reuters.  What's Going On With IBM Shares On Tuesday?

Benzinga - by Nabaparna Bhattacharya, Benzinga Editor.

On Tuesday, the company said that it is exploring to make the IBM Granite model series available later this year for use across the Salesforce, Inc. (NYSE:CRM) Einstein 1 platform, with the aim to provide clients access to more models to enhance decision-making for AI CRM use cases.

The Granite code models range from 3B to 34B parameters and come in both base and instruction-following model variants, which are suitable for tasks such as code generation and fixing bugs.

Check This Out: IBM Ventures Into Open-Source AI With ‘Granite’ Models, Strikes Training Deal With Saudi Arabia For Arabic AI System

In addition, IBM and AWS are partnering to bring together Amazon.Com, Inc. (NASDAQ:AMZN) SageMaker and watsonx.governance on AWS. This product will equip Amazon SageMaker clients with advanced AI governance capabilities for their predictive machine learning and generative AI models.

The tech behemoth also confirmed that it will release a family of IBM Granite models into open source and launched InstructLab in collaboration with Red Hat.

Apart from these, the company is partnering Adobe Inc. (NASDAQ:ADBE) on hybrid cloud and AI, bringing Red Hat OpenShift and watsonx to Adobe Experience Platform. The companies are also exploring making watsonx.ai and Adobe Acrobat AI Assistant available on-prem and private cloud.

IBM is also introducing a new consulting service to advance client adoption of Adobe Express. These capabilities are expected to become available in 2H24.

The development includes the tech behemoth’s most capable and efficient Code LLMs that can out-perform larger code models on many industry benchmarks.

According to Benzinga Pro, IBM stock has gained over 33% in the past year. Investors can gain exposure to the stock via FT Vest Technology Dividend Target Income ETF (BATS:TDVI) and FT Vest DJIA Dogs 10 Target Income ETF (BATS:DOGG).

Price Action: IBM shares closed higher by 0.53% to $169.92 premarket at last check Tuesday.

Photo Credit: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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