HIGHLIGHTS: Arvind Krishna - CEO of IBM

Hi everybody, tune in to this short version of the podcast, which we do every Friday. For the long version, tune in on Wednesdays. Hi everybody, I'm Nikola Tangan, the CEO of the Norwegian Sovereign Wealth Fund, and today I'm in particularly good company because I'm with Arvin Krishna in New York and Arvin is the chairman and CEO of IBM, one of the most iconic technology companies in the world. Arvin has been with IBM for over 35 years and became the CEO in 2020 and have since orchestrated one of the most striking turnarounds in big tech. When he took over, IBM had been declining for years and today is growing faster than it's done for a long time.

So Arvin, a warm welcome. Thank you, Nikolai. It's always good to talk to you. Absolutely. Now, a lot of people still think that IBM is a kind of company from from another era and you have changed that.

So today, what does IBM do? IBM is largely a hybrid cloud and AI software company. We have made the transition to that's almost half our total revenue. We have another third that is in consulting and we try to help our clients transform for the current era of digital and AI. And then we have about 20% that is hardware.

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