International Business Machines Corp
IBMQ4 2024(IBM Q3 FY2024)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$7.5B
AI Revenue (Q)
$2.2B
Total Revenue (Q)
$44.5B
Source: SEC EDGAR SEC Filing Filing
View SEC Filing on SEC.govAnalysis
IBM reported Q3 total revenue of $14,968M. Software $6,524M (HPS $4,600M, TP $1,925M), Consulting $5,152M, Infrastructure $3,042M, Financing $181M. No AI-specific revenue disclosed in the filing. Software grew 9.7% from recast prior-year ($5,947M), with HPS growing strongly from $4,187M to $4,600M (9.9% growth). Consulting remained flat. IBM's AI book of business reportedly exceeded $3B in cumulative signings per public statements, but again this is bookings/ACV, NOT recognized revenue, and does NOT appear in SEC filings. As watsonx matures (~5 quarters GA), a larger portion of prior signings converts to recognized revenue. HashiCorp acquisition ($6.4B) announced but not yet closed. Conservative estimate: ~$748M AI revenue. $748M / $14,968M = 5.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Total revenue $14,968M; Software $6,524M (HPS $4,600M, TP $1,925M), Consulting $5,152M, Infrastructure $3,042M, Financing $181M
Revenue Disaggregation / Segment Information
designed especially for mission-critical and AI workloads
Item 1. Business - Infrastructure Competition
AI Products Identified (Ring 1)
watsonx.aiwatsonx.datawatsonx.governanceWatson Orchestratewatsonx Code Assistantwatsonx 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