IBM Spins Off Legacy Business to Focus on Cloud and AI

IBM has announced that it is spinning off a $19 billion chunk of its legacy business to focus on the cloud and AI.

The 109-year-old tech company will separate its managed infrastructure services unit into a new public company, temporarily named NewCo. The split will help IBM focus on its cloud platform and artificial intelligence, while the new company will provide services to manage the infrastructure of businesses and other organizations, said IBM’s CEO Arvind Krishna.

Read more at APnews.