IBM · 10-Q · 2026Q2 · Full report

AI Infrastructure Supply Constraints

INTERNATIONAL BUSINESS MACHINES CORP · 2026-07-23 · Importance 40 · Surprise 42

IBM described the infrastructure supply environment as constrained during the first half of 2026. The company proactively strengthened its supply chain and increased inventory levels to support anticipated customer demand in the second half. Higher inventory was specifically linked to preparations for expected demand, indicating that supply availability and lead-time risk remain relevant to IBM’s infrastructure business.