Latest news with #Spyre
Yahoo
2 days ago
- Business
- Yahoo
Spyre Therapeutics Announces Grants of Inducement Awards
WALTHAM, Mass., June 6, 2025 /PRNewswire/ -- Spyre Therapeutics, Inc. (NASDAQ: SYRE) (the "Company" or "Spyre"), a clinical-stage biotechnology company utilizing best-in-class antibody engineering, dose optimization and rational therapeutic combinations to target improved efficacy and convenience in the treatment of IBD and other immune-mediated diseases, today announced that Spyre's independent Compensation Committee of the Board of Directors approved the grant of stock options to purchase 50,200 shares of common stock of Spyre to three non-executive employees as equity inducement awards under the Spyre Therapeutics, Inc. 2018 Equity Inducement Plan, as amended (the "2018 Plan"). The stock options were approved on June 2, 2025 and were material to each employee's acceptance of employment with Spyre, in accordance with Nasdaq Listing Rule 5635(c)(4). The stock options were granted with a 10-year term and an exercise price equal to $15.40, the closing price per share of Spyre's common stock as reported by Nasdaq on June 2, 2025. The options granted to each employee shall vest and become exercisable as to one-fourth (1/4th) of the shares subject to the respective options on the first anniversary of the employee's start date, and one-forty-eighth (1/48th) of the shares subject to the respective options shall vest and become exercisable monthly thereafter, in each case, subject to continuous service with Spyre through the applicable vesting dates. The stock options are subject to the terms of the 2018 Plan. About Spyre Therapeutics Spyre Therapeutics is a clinical-stage biotechnology company that aims to create next-generation inflammatory bowel disease (IBD) and other immune-mediated disease products by combining best-in-class antibody engineering, dose optimization, and rational therapeutic combinations. Spyre's pipeline includes investigational extended half-life antibodies targeting α4β7, TL1A, and IL-23. For more information, visit Spyre's website at View original content to download multimedia: SOURCE Spyre Therapeutics, Inc.
Yahoo
25-04-2025
- Business
- Yahoo
IBM touts software segment gains as infrastructure revenue falls
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. IBM saw its software segment dominate revenues as the company prepared to deliver its next generation z17 mainframe in eight weeks, executives said during a Q1 2025 earnings call Wednesday. The company reported $14.5 billion in first quarter revenues — up 1% year over year — driven largely by software, which accounted for nearly 45% of IBM's business, up from 40% a year ago. 'Our mix shift towards software is driving growth,' SVP and CFO James Kavanaugh said. IBM's infrastructure revenues declined 6% as the z16 sales cycle wound down, but the company remained bullish on its flagship product line. "Mainframe is an integral part of our business portfolio overall, and it is an enduring platform that we are going to ensure that we prudently but aggressively manage,' said Kavanaugh. Acquisitions fueled IBM's shift to software. The company bought open-source platform provider Red Hat for $34 billion in 2019 and added Apptio and HashiCorp to its software portfolio in the last two years. The pivot didn't slow the pace of mainframe development. The z17, which arrives less than three years after its Z Systems predecessor, was designed with AI workloads in mind. Units are powered by the high-capacity Telum II processor and are equipped for the custom Spyre accelerator chip. 'We start testing very early with our clients … in private confidential gatherings,' Chairman and CEO Arvind Krishna said Wednesday. 'Given what we showed them around security, around AI and around increased capacity, almost all of them resonated very positively to the mainframe.' Despite massive migrations to cloud and concerns about a falloff in mainframe engineering talent, the platform continues to run more than two-thirds of global business transactions by value, according to IBM research. 'We run 45 of the top 50 banks around the world, 9 of the top 10 retailers, 4 to 5 top 10 airlines of the world,' Kavanaugh said. 'We are going to protect those clients and what the mainframe brings to the table.' The new Z Systems product line arrives at a time of IT budget reassessment by enterprises tracking the impact of President Donald Trump's trade policy on the global economy. Despite a surge in PC shipments during the first three months of the year, Gartner analysts did not see a parallel uptick in end-user purchasing behavior. IBM's consulting segment, which accounted for roughly 35% of quarterly revenue, felt the pinch as some clients delayed decisions on discretionary IT projects, Krishna said. 'Consulting tends to see headwinds before other parts of the business,' he added. Company infrastructure and software supply chains are largely insulated from tariffs, according to Krishna, who said imported goods represent less than 5% of IBM's overall spend. While executives are scrutinizing IT budgets for potential cost reductions, most are reluctant to impede modernization, analysts told CIO Dive earlier this month. The pause on some U.S. tariffs announced April 9 opened a 90-day window for enterprises to reconsider purchasing strategies. 'We have not seen any material change in client-buying behaviors,' Krishna said. 'In the near-term, uncertainty may cause clients to pause and take a wait-and-see approach. However, the value of hybrid cloud automation, data sovereignty and on-premise solutions becomes even more critical in volatile windows.'
Yahoo
10-04-2025
- Business
- Yahoo
IBM's AI Mainframe Will Boost Revenue This Year
While International Business Machines (NYSE: IBM) generates most of its revenue from software and consulting services, the company's hardware business is still an important piece of the puzzle. IBM's mainframe systems, known for their extreme reliability, remain a workhorse in certain industries. Of the world's 50 top banks, 43 use IBM's mainframes to handle mission-critical workloads. Every two to three years, IBM refreshes its mainframe lineup with a new model that brings improved performance and expanded capabilities. IBM works with its clients to push the mainframe in the right direction, and lately, that direction has been toward artificial intelligence (AI). IBM announced its latest mainframe system, the z17, on Tuesday. The z17 is powered by the IBM Telum II processor, which the company detailed last year. In addition to general performance improvements over its predecessor, the Telum II features an on-chip AI accelerator capable of churning through 450 billion AI inferencing operations per day. Response times are around one millisecond, making the system ideal for use cases that need near-instant results. One example IBM noted was running a credit card fraud-detection model in real time as transactions are being processed. On top of the AI capabilities of the Telum II processor, IBM plans to launch its Spyre Accelerator in the fourth quarter of this year. Spyre is an AI expansion card that can be plugged into the z17 to provide more computational horsepower. With Spyre, clients will be able to make use of AI assistants and agents built on IBM's Granite models, bringing generative AI to the mainframe. Each time IBM launches a new mainframe system, sales temporarily boom as clients upgrade from older models. The z16, which is nearly three years old at this point, delivered a strong product cycle for IBM. As of the end of the fourth quarter of 2024, the z16 was the most successful mainframe cycle in company history. In terms of MIPS, a metric IBM uses to measure a mainframe system's processing power, the z16 install base increased by about 30% over its predecessor. The z17 launches in June, so IBM will see a meaningful increase in mainframe revenue during the second half of the year. In the third quarter of 2022, the first full quarter of z16 availability, mainframe revenue soared 88% year over year. IBM doesn't break out mainframe revenue directly, but hybrid infrastructure, which includes mainframes and other hardware products, generated revenue of $8.9 billion in 2024. Beyond an increase in hardware sales, the new mainframe can drive software and consulting sales, particularly related to AI. IBM has booked more than $5 billion worth of generative AI-related business so far, and the bulk of that came from consulting signings. As mainframe clients upgrade to the AI-enabled z17, other parts of IBM could get a boost. The new mainframe is one reason IBM was able to guide for revenue growth of more than 5% this year, an acceleration, compared to 2024. Achieving that outlook could prove challenging, considering the recent U.S. tariffs and the potential for a broad economic slowdown. However, IBM's mainframes are mission-critical systems, and the z17 delivers AI capabilities that are likely to be in demand from its clients. With the z17, IBM continues to evolve the mainframe and maintain its relevance. With a focus on AI, the z17 should drive another strong mainframe cycle for IBM. Before you buy stock in International Business Machines, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and International Business Machines wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $461,558!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $578,035!* Now, it's worth noting Stock Advisor's total average return is 730% — a market-crushing outperformance compared to 147% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 5, 2025 Timothy Green has positions in International Business Machines. The Motley Fool has positions in and recommends International Business Machines. The Motley Fool has a disclosure policy. IBM's AI Mainframe Will Boost Revenue This Year was originally published by The Motley Fool Sign in to access your portfolio
Forbes
08-04-2025
- Business
- Forbes
AI Meets The Mainframe: Inside IBM's Bold Z17 Bet
IBM z17 Mainframe IBM recently introduced the z17, its latest generation enterprise mainframe system, powered by the new Telum II processor. The z17 offers significant performance gains over previous generations and integrates artificial intelligence with traditional mainframe capabilities. At the core of the z17 is IBM's Telum II processor, a second-generation chip that features eight 5.5 GHz cores and 360MB of on-chip cache and an embedded AI accelerator. The new processor enables the system to perform more than 450 billion AI inferencing operations per day, achieving latency as low as one millisecond. According to IBM, the z17 delivers 50% more AI inference capacity than its predecessor, the z16, while preserving the performance, security, and reliability for which the mainframe is known. Beyond its traditional mainframe attributes, the z17's ability to run generative AI workloads directly on the mainframe sets it apart. The Spyre Accelerator, expected to be available in Q4 2025, will make this possible. The Spyre Accelerator is a PCIe-based card that enables native support for large language models and other advanced AI applications. This eliminates reliance on external GPUs or cloud services. Both the Tellum II processor and Spyre accelerator were first detailed at the 2024 Hot Chips conference. IBM Tellum II (left) and Spyre (right) Processors By keeping AI workloads on-premises, businesses gain greater control over sensitive data, reduce architectural complexity, and achieve faster, more secure processing. This approach is particularly valuable in industries with strict regulatory requirements and high-security standards, such as banking, healthcare, and government. The z17 is also deeply integrated with IBM's watsonx platform, including tools like watsonx Code Assistant for Z and watsonx Assistant for Z. These AI-driven tools support the modernization of legacy COBOL applications by simplifying code maintenance, accelerating refactoring efforts, and lowering the learning curve for new developers. This increases development speed and improves consistency across enterprise systems. Beyond its AI capabilities, the z17 maintains the fundamental qualities that have defined the mainframe for decades. It offers built-in high availability through fault-tolerant design and advanced error detection, ensuring uninterrupted operations. Security remains a cornerstone of the platform, with end-to-end encryption and support for confidential computing that protects data while it is being used, not just during storage or transit. To complement the z17, IBM introduced z/OS 3.2, its AI-optimized operating system that supports hybrid cloud integration, NoSQL databases, and hardware-accelerated AI processing. Operational management is enhanced through IBM Z Operations Unite, which uses OpenTelemetry to unify and streamline observability and incident response. Security also sees a major upgrade with IBM Vault, based on HashiCorp's secrets management technology, now offering unified identity-based security for secrets, certificates, and tokens across both mainframe and hybrid environments. IBM's acquisition of HashiCorp was completed earlier this year. IBM backs the launch with expanded lifecycle support services and new AI-powered customer service tools like IBM Agent Assist, helping clients manage critical workloads with maximum uptime and resilience. Mainframes continue to serve as the backbone of industries where uptime, throughput, and security are non-negotiable. Sectors like financial services, healthcare, insurance, and public infrastructure still rely heavily on mainframe systems for their most critical workloads. In today's environment—characterized by rising cloud costs, heightened privacy concerns, and increasing interest in AI-enabled decision-making—many enterprises are reconsidering the value of maintaining secure, on-premises infrastructure. A recent IBM-sponsored survey found that 78% of global IT executives consider the mainframe central to their digital transformation strategies, while 88% consider application modernization a key priority. The z17 arrives when enterprises are under growing pressure to derive more value from existing data assets while improving security posture and managing talent shortages. IBM's positioning of the z17 as an AI-native mainframe—not a relic of the past but a platform for future innovation—aligns with these emerging business needs. By enabling AI directly on the platform, IBM reduces the need to offload sensitive data to external environments for analysis. This reduces security risks and latency, while also sidestepping the increasing difficulty of sourcing GPU capacity for enterprise AI workloads. While companies like Nvidia dominate the GPU market and cloud providers such as AWS, Microsoft Azure, and Google Cloud lead the AI services space, IBM is carving out a different path. With the z17, IBM offers an on-premises, vertically integrated solution tailored for industries that demand regulatory compliance, data control, and uninterrupted operations. This strategy gives IBM a unique position in the evolving AI infrastructure landscape. Despite lingering perceptions of the mainframe as outdated or complex, IBM is actively working to change that narrative. New AI-powered tools, along with low-code development environments and modern IDEs, are helping reduce complexity and make the platform more accessible to a new generation of developers. The z17 is also central to IBM's hybrid cloud vision. Though not cloud-native in the strictest sense, it integrates with Red Hat OpenShift and supports modern DevOps pipelines. Combined with advanced observability tools and AI-assisted development environments, the z17 complements, rather than competes with, cloud-native infrastructure. For organizations that require scalable, secure, and resilient infrastructure, the mainframe remains relevant and essential.
Yahoo
08-04-2025
- Business
- Yahoo
IBM powers up AI-ready z17 mainframe
This story was originally published on CIO Dive. To receive daily news and insights, subscribe to our free daily CIO Dive newsletter. IBM rolled out its z17 mainframe, a product line designed for AI computing, in a Tuesday announcement. The units will be generally available on June 18, the company said. The newest member of the Z Systems family was built to run generative and predictive AI workloads and support multi-model applications, Elpida Tzortzatos, IBM fellow and CTO AI on IBM Z and Linux One, said during a virtual briefing last week. Units come equipped with high-capacity Telum II processors and are set up for IBM's Spyre accelerator chips, which the company plans to deliver later this year. As part of the rollout, IBM will introduce a performance management tool called IBM Z Operations Unite in May and release a new version of its mainframe operating system, z/OS 3.2, in Q3 of this year. 'This is a fully engineered stack,' Tina Tarquinio, VP and chief product officer for IBM Z and Linux One, said during the briefing. Mainframes occupy a pivotal position in digital transformation. Organizations have continued to lean on the enterprise workhorse to power core applications despite the impetus to embrace the cloud. The z17 arrives after a solid two-plus year run for its predecessor, the z16, which yielded one of the longest and most consistent periods of revenue growth in the platform's history, IBM SVP and CFO James Kavanaugh said last year. Z systems units run over 70% of global transactions by value, including 90% of credit-card transactions, Tarquinio said, drawing on a survey of more than 2,500 global technology executives conducted last year by Oxford Economics at IBM's behest. 'IBM mainframes hold their value,' John Schick, ISG consulting lead on mainframe computing, told CIO Dive. 'There are z15s that are still in use and being installed as used equipment.' Large language model technologies added another twist to the modernization plot as tech leaders considered the potential cost of running compute-intensive generative AI applications in the cloud. Four in 5 respondents to the Oxford Economics survey said mainframes were a key part of their AI plans. Security and data privacy concerns have also cast a favorable light on mainframe hardware. To bolster Z systems' resilience, IBM built quantum-safe encryption algorithms into the z17, Tarquinio said. In the lead up to the release, the company tapped its customer base for over 2,000 hours of test runs and conducted discovery workshops with over 150 clients, according to Tarquinio. Modernizing legacy applications for deployment on cloud or hybrid infrastructure remains a priority for mainframe users. The z17 will ease this process by leveraging Spyre to power watsonx Code Assistant for Z on-prem, Tarquinio said. In addition to the z17 rollout, IBM acquired data and AI consultancy Hakkoda, the company announced Monday. Financial details of the deal, which closed on April 2, were not disclosed.
