IBM shares are on target for their highest closing level since April 2017, as the enterprise technology company gains traction with investors as an underappreciated play on the emerging generative artificial intelligence trend. Adding to the bullish tone on Tuesday, BofA Global Research analyst Wamsi Mohan repeated his Buy rating on the stock, lifting his target price to $170, from the recently surpassed $155. IBM shares are up 0.5% in early afternoon trading on Tuesday, at $161.93...

Meta Platforms and IBM launched a coalition of more than 50 artificial intelligence companies and research institutions that are pushing a so-called open model of AI, hoping to gain traction in a fast-growing market. The AI Alliance, whose members include Intel, Oracle, Cornell University and the National Science Foundation, said it is pooling resources to stand behind "open innovation and open science," in AI. Its members largely support open source, an approach in which technology is shared free and draws on a history of collaboration among Big Tech, academics and a fervent movement of independent programmers...