A clip of Donald Trump praising the CEO of International Business Machines (NYSE:IBM) went viral last weekend and helped power the stock’s biggest weekly move in years.

The footage was six months old, and is not the only reason IBM has gained nearly 30% in five sessions.

A $10 Billion Quantum Commitment

IBM said Tuesday it will invest more than $10 billion in quantum computing over five years, aiming to build the world’s first large-scale, fault-tolerant quantum computer by 2029.

“The quantum era is no longer ahead of us, it has started,” Chairman and CEO Arvind Krishna said.

The company also said it will launch Anderon, which it called the world’s first pure-play quantum wafer foundry, backed by a $1 billion cash contribution.

A Kalshi contract on the arrival of a useful quantum computer before 2030 currently trades at just 36%, suggesting traders see IBM’s 2029 Starling target as ambitious.

The AI rally is showing signs of exuberance, the kind that has sometimes been followed by a crash. A Polymarket contract on whether the AI bubble bursts by the end of 2026 sits near 25%.

The Nvidia And Red Hat Engine

Beyond quantum, IBM sits at the center of the current AI hardware cycle. Nvidia (NASDAQ:NVDA) named IBM a key partner for its next-generation Vera Rubin AI accelerators over the weekend, with IBM Cloud instances and BlueField-4 integration giving the company immediate picks-and-shovels exposure.

IBM also unveiled Project Lightwell last week, a $5 billion initiative with Red Hat to secure enterprise open-source software supply chains using frontier AI. Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Visa (NYSE:V) are already participating.

Wedbush Lifts Its Target To $350

Wedbush raised its price target on IBM to $350 from $320 on Tuesday, maintaining an Outperform rating. The broker cited greater confidence in IBM’s ability to sustain profitable growth as SaaS slowdown fears fade.

The upgrade landed as retail buying in U.S. software ETFs hit record levels.

The Trump Clip That Moved Polymarket

On Saturday, an X account posted a Trump video praising IBM’s CEO and claimed the president was “calling” the stock at $297. The post drew 3.7 million views before Community Notes flagged that the footage was from 2025.

The Polymarket X account amplified the story Monday, posting that IBM had surged 7% after the clip resurfaced. The video is the latest “Trump stock pick” meme to move a major ticker, following similar bumps in Intel (NASDAQ:INTC) and Dell (NYSE:DELL).

IBM shares are up over 1.5% today, trading around $326.

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