1、M FoundationIBM|North America7 Data Points From Our 2Q25 CIO SurveyIBM screens mixed in our 2Q25 CIO survey,with cloud-related data points improving Q/Q but core IT Services and AI-related data points leaning more cautious.We detail the 7 most important data points from our survey below.M Big pictur

2、e,IBM screens mixed in our 2Q25 CIO Survey,with cloud-related data points improving Q/Q but core IT Services and AI-related data points leaning more cautious.Overall,our 2Q CIO survey paints a mixed picture for IBM,as a handful of core cloud-related metrics(i.e.share shift)for software and IT servic

3、es improved vs.4Q24,while at the same time broader IT Services spending intentions,Services quality rankings,and Gen AI adoption data points deteriorated vs.4Q24.Below,we dig into each of these data points in greater detail.On The Positive Side:1.IBMs expected budget loss due to workload migrations

4、to the cloud in 2025 and over the next 3 years continues to improve vs.prior surveys.IBMs expected net budget loss due to workload migrations to the cloud in 2025 improved 1 point vs.our 1Q25 CIO survey,to-4%,an 8 year high(Exhibit 1).On a 3 year basis,a net 7%of CIOs expect IBM to be a budget share

5、 loser due to cloud migrations,a 2 point improvement vs.1Q25(Exhibit 2).Both readings are above the average mature tech peer,and likely reflect relative strength in IBMs core RHT business.2.IBM only trails ACN as the IT Services vendor CIOs use/plan to use for their digital transformation and cloud

6、migration projects.16%of IT Services experts use/plan to use IBM for their digital transformation and cloud migration projects,up 6 points vs.4Q24 and second only to ACN(at 40%)(Exhibit 3).3.IBM ranks amongst the IT Services vendors least likely to discount.Overall propensity to discount increased i