International Business Machines Corp
IBMQ3 2024(IBM Q2 FY2024)Estimated4.5% AI
AI Revenue %
4.5%
AI Fair Value
$6.5B
AI Revenue (Q)
$709.6M
Total Revenue (Q)
$15.8B
Source: SEC EDGAR SEC Filing Filing
View SEC Filing on SEC.govAnalysis
IBM reported Q2 total revenue of $15,770M. Software $6,739M (HPS $4,575M, TP $2,164M), Consulting $5,179M, Infrastructure $3,645M, Financing $169M. No AI-specific revenue disclosed in the filing. Software segment grew 7.1% YoY, with Hybrid Platform & Solutions (which contains watsonx) growing from $4,350M to $4,575M. However, HPS also includes Red Hat, automation, and data management products that are not purely AI. IBM's AI book of business exceeded $2B in cumulative signings per public statements, but this is bookings, not revenue -- and is not in the SEC filing. watsonx is now ~4 quarters GA and accelerating. AI consulting (business transformation around AI) is a growing driver. Conservative estimate: ~$710M AI revenue. $710M / $15,770M = 4.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $15,770M; Software $6,739M (HPS $4,575M, TP $2,164M), Consulting $5,179M, Infrastructure $3,645M, Financing $169M
Revenue Disaggregation / Segment Information
The Weather Company asset divestiture closed January 31, 2024
Segments Note
AI Products Identified (Ring 1)
watsonx.aiwatsonx.datawatsonx.governanceWatson Orchestratewatsonx Code Assistant
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Red Hat OpenShift AIIBM Consulting AI practiceHybrid Platform & Solutions
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix