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IBM reported a 1% rise in revenues overall, while its software unit grew 10% on a year-over-year basis amid growing demand for artificial intelligence and its operating system known as Red Hat Linux.

Arvind Krishna told financial analysts that IBM investments in AI and consulting will help drive the company’s business going forward.

IBM reported a 1% rise in revenues overall, while its software unit grew 10% on a year-over-year basis amid growing demand for artificial intelligence and its operating system known as Red Hat Linux.

In a statement, IBM CEO Arvind Krishna said the company has recorded $5 billion in bookings for its generative AI business.