IBM Landed A $240M AI Deal. Is That Enough?

IBM signed a $240 million deal with Together AI to build an Nvidia-powered AI inference cluster on IBM Cloud, announced Aug. 11. The initial installation is expected to use roughly 2,000 Nvidia Blackwell 300 chips, with HGX B300 systems and Spectrum-X Ethernet networking, located in the U.S. Together AI revenue chief Kai Mak said demand is strong enough that the cluster could sell out two to three months before it goes live. IBM’s shares have faced pressure this year, and the deal is framed as a potential inference-driven growth boost. Still, IBM reported slower performance: revenue rose 1% to $17.2 billion in the quarter ended June 30, 2026.