IBM and Alphabet are pulling in massive revenue—but their growth stories couldn’t be more different. IBM earned $17.2 billion, up just 1%, as consulting and hardware face headwinds, while Alphabet surged to $119.8 billion, a 24% jump, fueled by AI-driven cloud services like Google Cloud—which saw an 82% revenue spike and a $500+ billion customer backlog. The market’s clearly favoring Alphabet’s AI momentum, leaving IBM to catch up on a slower, more cautious path.

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