Stock Track | IBM Soars 5.34% Intraday on Deepgram Voice AI Partnership and Bullish Analyst Rating

Stock Track
Feb 24

IBM's stock surged 5.34% during Tuesday's trading session, marking a significant rebound after plummeting 13% on Monday. The sharp decline earlier in the week was triggered by fears that AI startup Anthropic's new coding tool could threaten IBM's mainframe business.

The intraday rally is attributed to two key positive developments. First, IBM announced a collaboration with Deepgram to integrate advanced speech-to-text and text-to-speech capabilities into its watsonx Orchestrate generative AI solution. This partnership aims to enhance enterprise-grade transcription, real-time captioning, and voice-enabled digital agents, expanding IBM's AI offerings.

Second, Evercore ISI analyst Amit Daryanani maintained a Buy rating on IBM with a price target of $345, expressing continued confidence in the technology giant. These factors, combined with a broader market uptick, helped drive the stock's recovery as investors reassessed the company's position in the evolving AI landscape.

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