IBM extended maturities on its $2.5B three-year revolver to June 20, 2029 and its $7.5B five-year revolver to June 22, 2031, preserving $10B backup liquidity, with JPMorgan as administrative agent. IBM also partnered with OpenAI to add advanced AI models to enterprise cybersecurity via Daybreak and Project Lightwell, aiming to boost threat detection and response; shares jumped about 4–5% after hours. JPMorgan raised IBM to Overweight and lifted its target to $291, noting software now represents ~45% of revenue and drives ~2/3 of profit, with the bank expecting H2 2026 software and AI-related growth; stock rose ~5% premarket. Additionally, IBM will install a quantum computer at Illinois Quantum and Microelectronics Park in Chicago, a project backed by state and private funds expected to create about 750 jobs by 2030.