IBM

IBM's price jumped roughly a tenth in just one week, on nearly double its usual trading volume.

What is going on right now?

IBM climbed fast over the past seven days, and reports that Meta plans to spend around $145 billion on AI infrastructure have fueled talk that IBM's cloud business could see some of that demand indirectly.

How is the business itself doing?

IBM makes most of its money from software, consulting, and cloud services for big companies. Sales grew only about 1% recently, and earnings dipped slightly, so the business is steady but not surging.

What stands out?

The price has risen unusually quickly, pushing well above its recent trading range. Streaks like this often cool off, but the company also carries about $1.89 in debt for every $1 of its own equity, which means it feels interest costs more than a lighter competitor would.

What comes next?

Reports suggest rising expectations for interest rates could press on how the market prices tech companies broadly, and IBM's debt load means its borrowing costs are one concrete number to watch in its next earnings release.