IBM Launches Granite 3.0 Models; Stock Performance Mixed as Q3 Sales Fell Short, Earnings Exceeded Expectations, AI Bookings Reach $3 Billion

IBM has announced the launch of its Granite 3.0 family of models, designed to enhance accuracy in reasoning, comprehension, coding, and mathematics, while also implementing guardrails for safety. The company emphasizes its commitment to open-source AI with this new release. Despite the advancements in its AI business, IBM's stock has faced challenges, with a mixed third-quarter report indicating that while earnings exceeded expectations, sales fell short. Notably, IBM reported generative AI bookings of $3 billion for the quarter, reflecting significant growth in its enterprise AI segment, which increased by $1 billion from the previous quarter. Analysts remain cautiously optimistic about IBM's future, citing the need for improved financial results amid a competitive landscape in the AI sector.