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IBM CEO considers Amazon, Microsoft as partners in cloud hybrid market growth

Jordan
Major
Updated: 05 Dec, 2020
2 mins read

IBM CEO Arvid Krishna has stated that he considers Amazon and Microsoft as a likely partner in cloud hybrid market evolution.

According to Krishna, the possible partnership is based on putting the client’s needs first on where they want the workload to run. 

Krishana made the remarks while giving his position in the hybrid cloud competition. Currently, Microsoft and Amazon are IBM’s main competitors.  He notes that:

“It is a question of understanding what hybrid is supposed to appear in public. So I look at both Microsoft and Amazon as likely partners in this journey, not as being the one and two. In the hybrid world, the question is where the client wants where the workload runs.” 

The chief executive added that IBM’s Red Hat platform has the technology that runs on competitors’ hybrid platform.

IBM remains competitive ahead of Microsoft, Amazon

Over recent years, IBM has made significant steps in elevating its hybrid cloud. The focus has been on technical setup wherein companies may use multiple clouds and their on-premises servers. The IBM service offers companies tools to navigate between those various environments more efficiently.

IMB’s focus on growing its hybrid cloud is emerging as a top player dwarfing players like Amazon Web Services and Microsoft Azure. 

The end goal of IBM technology is to offer a foundational layer where other companies can anchor their software. Such a model has the potential of helping IBM secure longtime customers.

Related video:

IBM stock tumbled after the third-quarter earnings release

As Finbold has previously reported, IBM stock price dropped more than 3% after the third-quarter earnings release as its revenue fell for the third consecutive quarter. Its four out of five business segments reported a huge revenue decline from the year-ago period. Therefore, the company has recently announced to make big changes in its largest revenue segment.

IBM’s Global technology services segment is composed of infrastructure and cloud services. The company announced to spinoff infrastructure business into a standalone company in order to focus on cloud services.

Featured image: Screenshot of the CNBC TV video

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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