International Business Machines Corporation (IBM) stock is soaring 5.03% in intraday trading on Wednesday, as investors react positively to a series of strategic announcements and upcoming product launches. The tech giant's shares are gaining momentum on the back of its continued push into artificial intelligence (AI) and data transformation services.

One of the key drivers behind IBM's stock surge is the upcoming launch of its new z17 mainframe system in June. The z17 features upgraded AI capabilities aimed at real-time processing, including an on-chip AI accelerator capable of handling 450 billion AI inferencing operations per day. Additionally, IBM plans to introduce the Spyre Accelerator, a powerful AI expansion card, later this year, further enhancing the z17's AI capabilities. This move is expected to provide a significant revenue boost for IBM and potentially drive additional software and consulting sales.

In another strategic move, IBM recently announced the acquisition of Hakkoda Inc., a leading global data and AI consultancy. This acquisition is set to expand IBM Consulting's data transformation services portfolio, positioning the company to better assist clients in their AI transformations. The move underscores IBM's commitment to strengthening its position in the rapidly growing AI and data analytics market.

Furthermore, investors are anticipating IBM's upcoming first-quarter 2025 financial results announcement. The combination of these positive developments and the potential for strong quarterly performance appears to be fueling investor optimism, contributing to the stock's significant rise today.