IBM, Raytheon Intend To Develop Artificial Intelligence, Cryptographic, Quantum Solutions - IBM (NYSE:IBM), RTX (NYSE:RTX)

International Business Machines Corp IBM and Raytheon Technologies Corp RTX have agreed to strategic collaboration to develop advanced artificial intelligence, cryptographic and quantum solutions for the aerospace, defense, and intelligence industries. The financial terms of the arrangement were not disclosed.
The companies seek to crack once-unsolvable challenges by combining IBM's commercial research with Raytheon's research, plus aerospace and defense expertise.
In addition to artificial intelligence and quantum, the companies will jointly research and develop advanced cryptographic technologies focussed on problems faced by the aerospace industry and government agencies.
The companies build a technical collaboration team to quickly insert IBM's commercial technologies into active aerospace, defense, and intelligence programs. They also intend to identify technologies for jointly developing long-term system solutions by investing research dollars and talent.
Price Action: IBM shares are trading lower by 0.36% at $142.71, while RTX is down by 0.24% at $90.39 on the last check Monday.