International Business Machines Corp (NYSE:IBM) CEO Arvind Krishna said a few large capital expenditure deals were delayed late in the second quarter as customers paused spending to reassess cybersecurity investments following the launch of Anthropic's Mythos, while maintaining that the company's software business remains unaffected by artificial intelligence.
Large Deals Delayed CNBC reporter Sara Eisen said in a post on X Tuesday that Krishna told her the delayed transactions were tied to IBM's mainframe business and the software associated with it, rather than reflecting broader weakness across the company.
"A few large capex deals paused near the end of the quarter.
It's not widespread.
It's mainframe and the software associated with it," Krishna said.
