International Business Machines Corp
IBMQ4 2023(IBM Q3 FY2023)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$3.6B
AI Revenue (Q)
$442.6M
Total Revenue (Q)
$14.8B
Source: SEC EDGAR SEC Filing Filing
View SEC Filing on SEC.govAnalysis
IBM reported Q3 total revenue of $14,752M. Segments: Software $6,265M, Consulting $4,963M, Infrastructure $3,272M, Financing $186M. No AI-specific revenue is disclosed in the filing. watsonx has now been generally available for roughly one quarter. IBM completed the Apptio acquisition ($4.6B) in this period, which is primarily IT financial management -- not AI. Seven acquisitions totaling $5,033M were completed in the first 9 months of FY2023. While IBM began discussing AI momentum on earnings calls, the SEC filing itself contains no AI revenue quantification. watsonx revenue is beginning to ramp within Software segment. Conservative estimate: ~$443M AI revenue (Watson legacy + early watsonx + AI consulting). $443M / $14,752M = 3.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $14,752M; Software $6,265M, Consulting $4,963M, Infrastructure $3,272M, Financing $186M
Segment Information
seven acquisitions at an aggregate cost of $ 5,033 million
Acquisitions & Divestitures
AI Products Identified (Ring 1)
watsonx.aiwatsonx.datawatsonx.governanceWatson AssistantWatson Discovery
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 AICloud Pak for DataIBM Consulting AI practiceApptio
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix