IBM shares drop sharply after the company issues a profit warning and forecasts revenue for the second quarter below market expectations. Multiple outlets report that the company expects weaker-than-anticipated performance, attributing the shortfall to sluggish customer spending. IBM links the slowdown to how clients are managing spending priorities tied to AI infrastructure, suggesting that demand timing and budget decisions are affecting near-term results. The Financial Times frames the move as a profit warning that signals IBM may miss market expectations, while the Globe and Mail similarly highlights that IBM’s second-quarter revenue forecast falls under what analysts anticipate. Both accounts describe the same underlying theme: an industry shift in how customers allocate technology budgets, including investment related to AI infrastructure, which influences IBM’s revenue timing and operating outlook. The reports emphasize that investors react immediately to the guidance change, resulting in a significant share price decline. No other major new initiatives or alternative explanations are cited beyond the customer spending environment and the impact of AI-related infrastructure spending patterns on IBM’s near-term outlook.