IBM to Spin Off Legacy IT Business, Pegging Future on Cloud

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(Bloomberg) — International Business Machines Corp. is spinning off a slower-growth business that manages corporate computer systems so it can focus on the boom in demand for cloud services and step up competition with Amazon.com Inc. and Microsoft Corp.

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The new unit, which is currently part of IBM’s global technology services division, handles day-to-day infrastructure service operations, like managing client data centers and traditional information-technology support for installing, repairing and operating equipment. It serves 4,600 clients and has an order backlog of $60 billion, according to a statement from IBM Thursday.

The shift essentially divides IBM into two, splitting its legacy IT-management services from its new hybrid-cloud computing and artificial intelligence unit, which the company hopes will return it to revenue growth — and relevancy. IBM said it aims to complete the transaction as a tax-free spinoff to IBM shareholders by the end of 2021.

The move is the fourth major transformation for IBM in its 109-year history and is the first big move by Chief Executive Officer Arvind Krishna, who took over from Ginni Rometty in April and has been pushing to revive growth after almost a decade of shrinking revenue. Krishna earlier this year cut thousands of jobs as he began reshaping the business.

Once an iconic blue-chip company, IBM’s star has faded over the years as its legacy in mainframe computing and IT services fell behind while newer technology firms like Amazon swooped in to dominate the emerging cloud-computing market.

Now IBM is plotting its rebound, aiming to become the leader in what it calls hybrid-cloud software and services that let clients store data in private servers and in public clouds, including those run by Amazon and Microsoft Corp. In 2018, IBM spent $34 billion to buy open source software provider Red Hat to aid

Stingray Launches Spin Program To Support Emerging Canadian Country Talent

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Stingray



Canadian music, media and technology company STINGRAY has launched a music spin program called “The Trending Track” to support emerging Canadian talent across 19 of its Country stations nationwide. The program kicks off on MONDAY, OCTOBER 12th.

Every other month the STINGRAY Country team will select a track by an emerging artist to feature. The chosen song will receive two months of support and a minimum of 25 spins per week on the participating stations. “The Trending Track” artist will also be interviewed by STINGRAY personality PAUL MCGUIRE for his national midday and countdown shows, and will receive additional support on station social media and websites.  

To qualify for “The Trending Track,” the artist must be a Canadian citizen, the song must qualify as Canadian under the CRTC MAPL criteria, and the artist must be an emerging artist who either has not had a song chart or is in the first 18 months since their first song charted on the Canadian Top 50.




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Stock Alert: IBM Plans To Spin Off Managed Infrastructure Services Unit; Stock Jums 7%

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(RTTNews) – Shares of International Business Machines Corporation (IBM) are rising more than 7% Thursday morning on the news of its plan to spin-off managed infrastructure services unit.

IBM plans to separate its managed infrastructure services unit of its Global Technology Services division into a new publicly-traded company (NewCo) and focus more on the cloud business.

“This creates two industry-leading companies, each with strategic focus and flexibility to drive client and shareholder value,” IBM said.

The spin-off is expected to be completed by the end of next year.

“IBM is laser-focused on the $1 trillion hybrid cloud opportunity. NewCo will have greater agility to design, run and modernize the infrastructure of the world’s most important organizations. Both companies will be on an improved growth trajectory with greater ability to partner and capture new opportunities – creating value for clients and shareholders” said Arvind Krishna, IBM Chief Executive Officer.

Additionally, IBM reported preliminary third-quarter results with adjusted earnings of $2.58 per share and revenue of $17.6 billion.

Analysts polled by Thomson Reuters expect the company to report earnings of $2.58 per share on revenue of $17.54 billion.

IBM stock is currently trading at $134.04. It has been trading in the range of $90.55- $158.75 in the last one year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The discovery of triplet spin superconductivity in diamonds has the potential to revolutionise the high-tech industry. — ScienceDaily

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Diamonds have a firm foothold in our lexicon. Their many properties often serve as superlatives for quality, clarity and hardiness. Aside from the popularity of this rare material in ornamental and decorative use, these precious stones are also highly valued in industry where they are used to cut and polish other hard materials and build radiation detectors.

More than a decade ago, a new property was uncovered in diamonds when high concentrations of boron are introduced to it — superconductivity. Superconductivity occurs when two electrons with opposite spin form a pair (called a Cooper pair), resulting in the electrical resistance of the material being zero. This means a large supercurrent can flow in the material, bringing with it the potential for advanced technological applications. Yet, little work has been done since to investigate and characterise the nature of a diamond’s superconductivity and therefore its potential applications.

New research led by Professor Somnath Bhattacharyya in the Nano-Scale Transport Physics Laboratory (NSTPL) in the School of Physics at the University of the Witwatersrand in Johannesburg, South Africa, details the phenomenon of what is called “triplet superconductivity” in diamond. Triplet superconductivity occurs when electrons move in a composite spin state rather than as a single pair. This is an extremely rare, yet efficient form of superconductivity that until now has only been known to occur in one or two other materials, and only theoretically in diamonds.

“In a conventional superconducting material such as aluminium, superconductivity is destroyed by magnetic fields and magnetic impurities, however triplet superconductivity in a diamond can exist even when combined with magnetic materials. This leads to more efficient and multifunctional operation of the material,” explains Bhattacharyya.

The team’s work has recently been published in an article in the New Journal of Physics, titled “Effects of Rashba-spin-orbit coupling on

Spin Hall effect in Weyl semimetal for energy-efficient information technology

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Spin Hall effect in Weyl semimetal for Energy-efficient Information Technology
Fig 1. A schematic presentation of spin Hall effect in Weyl semimetal 1T’ WTe2, showing the separation of spin-polarized electrons (up and down spin) on the surfaces of a sample by just passing a charge current. Credit: Bing Zhao

The discovery of topological Weyl semimetals in 2017 has revealed opportunities to realize several extraordinary physical phenomena in condensed matter physics. Now, researchers at Chalmers University of Technology have demonstrated the direct electrical detection of a large spin Hall effect in this topological quantum material. Weyl semimetal takes advantage of its strong spin-orbit coupling and novel topological spin-polarized electronic states in its band structure. These experimental findings can pave the way for the utilization of spin-orbit induced phenomena in developing next-generation of faster and energy-efficient information technology and have been published in the scientific journal Physical Review Research.


As our society is becoming more integrated with artificial intelligence (AI) and Internet-of-Things (IoT), the demand for low-power, nanoscale, and high-performance electronic devices have been increasing. Spintronic devices are promising for the next generation of information technology in order to lower the power consumption while increasing the performance and non-volatile properties. Recently, the current induced magnetization switching by spin-orbit torque (SOT) using the basic spin Hall effect is identified as a vital ingredient for non-volatile spintronic memory and logic devices. The SOT mechanism is specifically useful, as a spin current can be generated by just passing a charge current in heavy metals due to the spin Hall effect, without the use of an external magnetic field. However, there are several challenges related to the limited switching speed and high-power consumption in these devices.

A group led by Saroj Dash, Associate Professor at the Quantum Device Physics Laboratory at Chalmers, used electronic devices made from novel topological quantum material, called Weyl semimetals, which is