Synthszr Charts — die großen AI-Marken im Wettkampf ums Podium

Granite 4.2

IBM · v4.2 · since 25. August 2026 · 2× · last seen Aug 30, 2026

Momentum

Granite 4.2 is a family of dense, decoder-only reasoning language models developed by IBM, available in 3B, 8B, and 30B parameter sizes, featuring native chain-of-thought reasoning and a switchable "thinking" mode. The models were pre-trained from scratch on roughly 15 trillion tokens and then refined through a multi-stage reinforcement learning pipeline (including agentic RL for the 8B and 30B variants) for tool calling, coding, and agentic workflows. The weights are openly released under the Apache 2.0 license on Hugging Face, GitHub, and Ollama, and are also available via IBM watsonx.ai and API providers; the model is text-only (no multimodality).

Momentum trend

01.06.30.08.

Features

Key Benchmark (%)	30B model: 57.00% on SWE-bench Verified (IBM's own testing)
Context Window (Tokens)	131,072 tokens in shipped configuration, with IBM claiming a 512K long-context extension
License	Apache 2.0 (open weights, unrestricted commercial use)
Multimodality	No, text-only (text input/output, no vision support)
Platform	Available via Hugging Face, GitHub, Ollama, and IBM watsonx.ai; supported by vLLM and SGLang
Price per 1M Tokens	30B: $0.16 input / $0.65 output; 8B: $0.06 input / $0.25 output (IBM's API)
Release Date	August 25, 2026

More products in this category: Reasoning Models

Sources (2)

Company Analysis: IBM

As of 27/08/2026

HOLDSynthszr Vote

IBM’s Q2 2026 disclosures show a mixed fundamental setup: modest revenue growth with Software strength but Infrastructure/Consulting headwinds and YoY FCF decline. With the stock trading around a ~21x trailing P/E and priced for steady execution, the most data-driven stance is HOLD until upcoming quarters confirm (1) sustained software-led growth, (2) stabilization in Infrastructure cycle impacts, and (3) tangible improvement in cash conversion consistent with management’s margin/FCF expectations. Strategic announcements (OpenAI partnership; HRL acquisition completion) support the long-term positioning but require measurable financial translation to justify incremental multiple expansion.

Summary

IBM is a global enterprise IT vendor with three operating pillars: Software (hybrid cloud platforming, automation, data/AI), Consulting (technology and operations services with a growing AI delivery layer), and Infrastructure (IBM Z and distributed infrastructure), plus a smaller Financing business. Its core competency is running mission-critical workloads for large enterprises and regulated industries, increasingly positioned around hybrid cloud architectures and “trusted” enterprise AI deployment. Market position is anchored by long-lived client relationships, high switching costs in mainframe and middleware, and a broad enterprise go-to-market that can bundle software, services, and infrastructure. Competitive advantages are most visible in hybrid environments (where clients mix on‑prem and multiple clouds) and in regulated use cases where governance, security, and auditability matter. IBM’s portfolio strategy continues to emphasize software mix and productivity to expand margins, while using acquisitions/partnerships to deepen data and AI capabilities. In the last ~90 days, the key fundamental datapoint is IBM’s Q2 2026 reporting (released July 22, 2026). IBM reported Q2 revenue of $17.2B (+1% YoY) with segment dynamics showing Software growth and weaker Infrastructure/Consulting mix effects; IBM also reported Q2 free cash flow (FCF) of $2.5B (down ~$0.3B YoY) and operating cash flow of $2.6B. Segment profitability remained strongest in Software (segment profit margin ~31.1%), with Consulting at ~10.6% and Infrastructure at ~23.3% (Infrastructure pressured by IBM Z cycle/shortfall commentary). Management commentary emphasized late‑quarter revenue headwinds but continued focus on productivity and cash generation. IBM’s Q2 shareholder letter reiterated margin improvement expectations and referenced adjusted FCF margin improvement expectations versus prior guidance baselines. Strategically, IBM announced an enterprise AI partnership with OpenAI (published Aug 13, 2026) to embed frontier models into IBM Consulting Advantage, reinforcing IBM’s “AI delivery at scale” narrative. IBM also completed the acquisition of HRL Laboratories (announced Aug 26, 2026) to accelerate quantum-related R&D capabilities. Valuation/metrics (as of Aug 27, 2026): IBM last price is $238.79 with market cap ~$227.6B and trailing P/E ~21.15 (per market data). Converting to EUR requires FX; using an ECB reference rate example (USD per EUR 1.1681 on Aug 20, 2026), this implies ~€204 per share (approximation). Near-term outlook is driven by (1) software-led growth durability, (2) Consulting demand sensitivity to enterprise spending cycles, (3) IBM Z cycle volatility, and (4) execution on margin/FCF targets amid portfolio changes.

Key Takeaways

Q2 2026 showed modest top-line growth (+1% YoY to $17.2B) with mix pressure: Software grew while Infrastructure was impacted by IBM Z cycle dynamics and Consulting faced demand headwinds. (Q2 2026 release/10-Q).
Cash generation remains central to the equity story: Q2 2026 FCF was $2.5B and IBM returned $1.6B via dividends in the quarter; however, FCF was down YoY, increasing sensitivity to execution in H2. (SEC filing / earnings release).
Profitability is structurally software-led: Q2 segment profit margin was ~31.1% in Software versus ~10.6% in Consulting and ~23.3% in Infrastructure, reinforcing the importance of software mix and recurring revenue. (Q2 segment tables).
Recent strategic moves emphasize AI delivery and differentiated R&D: the OpenAI partnership targets enterprise deployment via IBM Consulting Advantage, while HRL acquisition strengthens quantum-related capabilities. (IBM announcements).
At ~21x trailing earnings and a large-cap profile, IBM’s multiple leaves less room for execution misses; the investment case depends on sustained software growth, margin expansion, and credible FCF progression. (market data + Q2 disclosures).

Action Ideas

HOLD

Base-case positioning for investors who already own IBM: Q2 2026 results indicate software strength but also highlight volatility in Infrastructure (IBM Z cycle) and sensitivity in Consulting. With trailing P/E ~21 and the stock priced as a quality cash-generative compounder, the risk/reward is balanced until there is clearer evidence of re-acceleration in revenue and sustained FCF expansion in the next 1–2 quarters. Maintain exposure for dividend/cash-flow profile while monitoring segment mix and guidance follow-through.

Horizon: 6 mo.

BUY

Accumulation on confirmed execution signals: if subsequent quarterly reporting shows (a) sustained Software growth, (b) stabilization in Infrastructure, and (c) measurable improvement in adjusted FCF margin consistent with management’s stated expectations, IBM can justify a premium large-cap multiple through higher-quality earnings mix. The OpenAI partnership strengthens IBM Consulting’s AI delivery proposition and could support services productivity and attach rates if adoption translates into bookings and margin outcomes.

Horizon: 12 mo.

SELL

Risk-reduction for valuation-sensitive holders: if IBM’s next results show continued revenue headwinds with no offsetting margin/FCF improvement, the current valuation (trailing P/E ~21) could compress. Given Q2’s late-quarter headwinds and FCF decline YoY, a pattern of repeated shortfalls would weaken the cash-flow-led thesis and increase downside risk relative to slower-growth peers.

Horizon: 3 mo.

Contrarian Insights

• The market often frames IBM’s AI positioning primarily as a software/platform story; a differentiated angle is that IBM’s near-term monetization may be more dependent on Consulting delivery efficiency (e.g., IBM Consulting Advantage) than on standalone platform revenue, making services productivity a key KPI to watch alongside software growth. (IBM OpenAI partnership announcement + Q2 segment mix).
• Quantum-related acquisitions can be viewed as long-dated optionality with limited near-term financial impact; however, IBM’s completion of HRL Laboratories acquisition suggests continued capital allocation to differentiated R&D that could reinforce enterprise trust and strategic positioning even if it does not immediately lift quarterly revenue. (HRL completion announcement).