IBM's mainframe sales get mugged by AI hardware panic

IBM says customers spooked by soaring demand for AI infrastructure raided their mainframe budgets to stockpile servers, storage, and memory instead, knocking Big Blue's flagship Z business off course. Ahead of its full calendar Q2 earnings release next week, IBM took the unusual step of publishing preliminary quarterly results alongside a letter from CEO Arvind Krishna explaining why the numbers fell short of expectations. The biggest disappointment came in Infrastructure, where revenue fell 7 p