What's Going On With IBM Stock Wednesday?

International Business Machines Corporation IBM shares are trading higher today.

Yesterday, the company disclosed that two IBM-developed algorithms have been officially included in the first three post-quantum cryptography standards released today by the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST).

The new post-quantum cryptography standards include three algorithms: ML-KEM (formerly CRYSTALS-Kyber), ML-DSA (formerly CRYSTALS-Dilithium), and SLH-DSA (initially SPHINCS+). IBM’s FN-DSA (formerly FALCON) is also set for future standardization.

The publication of these algorithms is a key step in safeguarding encrypted data from potential future quantum computing threats.

Jay Gambetta, Vice President, IBM Quantum, said, “IBM’s mission in quantum computing is two-fold: to bring useful quantum computing to the world and to make the world quantum-safe. We are excited about the incredible progress we have made with today’s quantum computers, which are being used across global industries to explore problems as we push towards fully error-corrected systems.”

“However, we understand these advancements could herald an upheaval in the security of our most sensitive data and systems. NIST’s publication of the world’s first three post-quantum cryptography standards marks a significant step in efforts to build a quantum-safe future alongside quantum computing.”

On Monday, IBM and the World Wide Fund For Nature – Germany (WWF) are partnering to develop a new solution for monitoring keystone species, beginning with the critically endangered African forest elephant.

IBM and WWF are developing an AI-powered solution to enhance the tracking and identification of African forest elephants from camera trap photos, aiding conservation efforts and boosting carbon storage in their habitats.

Kendra Dekeyrel, VP of ESG and Asset Management at IBM, said, “Our technology will play a crucial role in streamlining the process of identifying and accounting for the individual elephants. This is an exciting new use of IBM software, which in combination with our consulting services and WWF’s deep knowledge of the natural world can help create new ways to accelerate organizations’ sustainability efforts.”  

Last week, IBM launched generative AI enhancements for its managed Threat Detection and Response Services, aimed at improving and optimizing security operations through the expertise of IBM Consulting analysts.

According to Benzinga Pro, IBM stock has gained around 35% in last 12 months. Investors can gain exposure to the stock via FT Vest Technology Dividend Target Income ETF TDVI and FT Vest DJIA Dogs 10 Target Income ETF DOGG.

Price Action: IBM shares are trading higher by 0.34% to $191.63 at last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock

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