IBM

IBM stands as one of the most iconic technology companies in history, with a legacy spanning over a century of continuous innovation and transformation. Founded on June 16, 1911, as the Computing-Tabulating-Recording Company (C-T-R) through a merger orchestrated by financier Charles Ranlett Flint, the company was reborn in 1924 as International Business Machines under the visionary leadership of Thomas J. Watson Sr. From its origins manufacturing punch card machines, electric typewriters, and time clocks, IBM evolved to become the global leader in computing technology, pioneering everything from the first commercial mainframes to artificial intelligence.

The company's history is marked by pivotal moments that shaped the technology industry. IBM's punch card machines helped the U.S. government administer Social Security in 1935. The company built the Mark I calculator in 1944, revolutionizing computation speed. The System/360 mainframe introduced in 1964 became the dominant computing platform and established IBM as the world's largest computer company. The IBM Personal Computer launched in 1981 set the architecture standard for the PC industry. Deep Blue's 1997 victory over chess champion Garry Kasparov marked a landmark in artificial intelligence.

IBM's transformation over the past two decades represents one of business history's most significant pivots. The company sold its PC division to Lenovo in 2005 for $1.75 billion, exiting hardware to focus on higher-margin businesses. The $34 billion acquisition of Red Hat in 2019 positioned IBM as a hybrid cloud leader. The 2020 spin-off of its Managed Infrastructure Services into Kyndryl completed IBM's evolution from a hardware-centric company to one focused on hybrid cloud and AI.

Today, under Chairman and CEO Arvind Krishna (appointed April 2020), IBM generates $62.8 billion in annual revenue with 270,300 employees across 170 countries. The company's strategic focus centers on three key areas: hybrid cloud infrastructure powered by Red Hat OpenShift, artificial intelligence through the watsonx platform, and enterprise consulting services. IBM's recent performance demonstrates this strategy's success: the company surpassed $6 billion in generative AI bookings since June 2023 and achieved record free cash flow of $12.7 billion in 2024. The stock price has doubled since Krishna became CEO, with the company trading at all-time highs through 2024-2025.