The news comes as the company announced it had chosen to list in London, in an initial public offering (IPO) which could value the company up to $7bn (£5bn).
Over the past decade, IBM (NYSE: IBM) has attempted to reinvent itself as a cloud services company through big investments and acquisitions. IBM plans to spin off its managed IT services unit into another company later this year, then focus on expanding the "new" IBM's hybrid cloud and artificial intelligence (AI) services to generate sustainable revenue growth again. Amazon established Amazon Web Services (AWS) nearly two decades ago to provide internet-based computing services.
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