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IBM reported a 1% rise in revenues overall, while its software unit grew 10% on a year-over-year basis amid growing demand for artificial intelligence and its operating system known as Red Hat Linux.

IBM reported a 1% rise in revenues overall, while its software unit grew 10% on a year-over-year basis amid growing demand for artificial intelligence and its operating system known as Red Hat Linux.

In a statement, IBM CEO Arvind Krishna said the company has recorded $5 billion in bookings for its generative AI business.