Remember IBM a blast from the past like the name Xerox? Hardly. I'm David Brancaccio in New York. International business machines. IBM is making a fortune on artificial intelligence these days.

IBM stock yesterday hit a 10-year high,

marketplaces Henry Epp report.

Hype around AI has boosted a lot of different tech companies over the last year or so,

but Wall Street analysts hadn't expected

IBM to rake in quite so much revenue in the last quarter of 2023, reporting its financial

results yesterday, the company that made its name developing some of the world's first computer systems last century, said demand for its AI platform nearly doubled between the third and fourth quarter last year.

The company expects its revenue to keep growing this year by a few percentage points,

and its chief financial officer predicted AI would produce some financial inflection points next year and beyond.

But IBM's revenue growth also came in a year when it cut nearly 4,000 jobs, and it plans to cut even more positions this year.

I'm Henry App for Marketplace.

IBM's Happy Day was not mirrored at Tesla.

After posting profits that dismayed many analysts and CEO Elon Musk indicating that he's not expecting

big jumps and electric car production this year, Tesla stock plummeted more than 12% yesterday,

knocking more than 80 billion dollars off the company's value on paper,

that stocks multiplied by the lower share price.

And here's a number $23 billion.

That's the record amount of money in federal contracts secured in 2023

by firms owned by tribal nations, Alaska Native Corporations and Native Hawaiian

groups. The number's been up for eight years in a row using a calculation from

Tribal Business News. Marketplace's Savannah Mar has that.

Tribal firms are benefiting from larger total federal contracting budgets in recent years,

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