IBM CEO Arvind Krishna disagrees with everyone saying that quantum computing is far, shares new timeline
IBM CEO Arvind Krishna has pushed back against skeptics on CNBC’s Mad Money, insisting quantum computing is not decades away but poised to deliver real business impact within the next few years. “I think that in 2028 or 2029, you’ll see it have a measurable impact on our top line and bottom line. By the end of the 2030s, we are now pretty convinced this is a trillion dollars of value,” Krishna said. Recently, IBM and startup Algorithmiq unveiled new research demonstrating quantum advantage — showing that a quantum computer could solve certain problems more efficiently than classical machines while verifying results. Krishna noted IBM’s quantum systems uncovered material behaviours previously invisible to conventional computing, with potential applications in better batteries, advanced materials, fusion energy, and smarter medicines.
IBM CEO Arvind Krishna address skepticism around quantum computing
Critics argue quantum computing faces hurdles like error rates and hardware complexity. Krishna countered that IBM is already making meaningful progress toward real-world applications. “A quantum computer can do things better, faster, cheaper, in a way that normal classical computers cannot do at this time,” he said.In May, IBM announced plans for a standalone quantum chip foundry, backed by $1 billion from the U.S. Commerce Department under the CHIPS Act and a matching $1 billion investment from IBM. Rivals including Alphabet and Rigetti Computing are also racing to commercialize quantum technology.Krishna’s comments come after IBM’s July earnings update triggered a 25% single-day stock drop, its worst on record. He reassured investors that delayed customer deals were deferrals, not cancellations, noting that about 40% had already closed within weeks.
IBM CEO’s statement that wiped away $70 billion from company’s market value
Recently, IBM CEO Arvind Krishna said growing concerns over advanced AI models such as Anthropic’s Mythos are prompting companies to pause technology deals and rethink how much they need to spend on cybersecurity. His comments came as IBM released preliminary second-quarter results that missed Wall Street expectations, sending the company’s shares down as much as 26% and wiping out nearly $70 billion in market value. At the same time, cybersecurity stocks surged, as investors bet businesses would increase spending on cyber protection in response to the rapidly evolving AI landscape.Speaking to CNBC, IBM CEO Aravind Krishna said some large customer deals were delayed toward the end of the quarter as companies reassessed their spending priorities. “Mythos is making people pause to say, wait, how much do I need to spend on cyber? They’re pausing on new deals until they know,” Krishna said.He added that IBM does not believe AI is disrupting its software business. “We don’t see our software being disrupted by AI at all.” In its preliminary results, IBM said customers shifted spending away from some of its products and instead invested more in AI infrastructure, including servers, storage and memory. Krishna also pointed to “rapidly-evolving, industry-wide cybersecurity concerns” as another factor affecting customer spending.
