IBM Spends $2.4 Billion On New Power Servers And Partners With Google And Nvidia To Go After Intel

Industry Coverage

After watching its hardware revenues shrink quarter after quarter and¬†announcing¬†a plan to sell its $2.3 billion x86 server business to Lenovo in Jan.,IBM's¬†IBM¬†-0.9%¬†announced a major shift in its servers business behind new Power Systems servers that the company says will be 50 times faster than the ones it‚Äôs divesting‚Äďwhile also anchoring a new collaborative data center foundation that includes tech powerhouses¬†Google¬†GOOG¬†-0.54%¬†and¬†Nvidia¬†NVDA¬†-1.07%.