The Financial Post reports in its Thursday, Sept. 12, edition that IBM has been having a renaissance that has left its shares on the cusp of their first record in more than a decade. A Bloomberg dispatch to the Post reports that IBM's stock is up 26 per cent this year, outperforming Apple, Microsoft, Amazon and Alphabet. This is due to IBM's shift to software and its potential in artificial intelligence. "This is a 'slow and steady wins the race' kind of stock," said Capwealth's Tim Pagliara. While IBM is still a bit overlooked within tech, "the recent price action is evidence of how people are starting to wake up to it, and the long-term success it will have." IBM's latest earnings showed bookings for AI consulting and software were double the previous quarter, and the company expects the proportion of revenue from software to increase. Efforts to transform from its history as a legacy hardware company include the acquisitions of Red Hat in 2019 and Apptio last year. IBM also announced a deal to buy cloud company Hashicorp in April. IBM's cloud business also means IBM is starting to be seen as an AI winner and a less volatile one than more popular names such as Nvidia. IBM trades at less than 20 times forward earnings.