IBM Beats Anthropic IPO as AI Value Play

With Anthropic eyeing a near-trillion-dollar IPO valuation, one analyst argues IBM offers a smarter entry point into AI at roughly a third of the price. At a $287 billion market cap and 26.6 times forward earnings, IBM carries a 2% dividend yield and growing exposure to both AI and quantum computing. While Anthropic and SpaceX dominate IPO headlines, value-focused investors like Bill Ackman are eyeing quality legacy names being overlooked amid market hype. IBM, up over 30% in the past month, is seen as a profitable, underappreciated innovator rather than a speculative bet.