INTERNATIONAL BUSINESS MACHINES CORP (IBM)

International Business Machines Corporation (IBM), originally incorporated in New York in 1911 as the Computing-Tabulating-Recording Co. and renamed in 1924, is a large accelerated filer with approximately 907.1 million shares outstanding as of February 10, 2023, and a non-affiliate market capitalization of $127.5 billion as of mid-2022. The company operates as a globally integrated enterprise focused on the intersection of business insight and technological innovation, centering its strategy on hybrid cloud computing and artificial intelligence (AI) to help clients drive digital transformation, reimagine critical workflows, modernize applications, and improve agility and operational efficiency. IBM's offerings span software, consulting services, and mission-critical infrastructure, supported by one of the world's leading research organizations.

The company maintains strategic partnerships with major technology firms such as Adobe, Amazon Web Services, Cisco Systems, Microsoft, Oracle, Salesforce, Samsung Electronics, and SAP to deliver end-to-end solutions, while noting that some partners may also be competitors in certain areas. IBM operates in a highly competitive global environment, facing hundreds of competitors ranging from large multinational corporations to smaller specialized firms, particularly as it advances its hybrid cloud and AI strategy. Its competitive positioning relies on technology innovation, performance, pricing, quality, brand reputation, breadth of capabilities, talent, client trust, and service support, with continued investment in organic and inorganic innovation to sustain leadership and prepare for emerging opportunities such as quantum computing.