
On Dec. 8, 2025, International Business Machines (NYSE: IBM) announced one of its most significant strategic moves in years, entering a definitive agreement to acquire data-streaming pioneer Confluent (NASDAQ: CFLT).
With an enterprise value of $11 billion, the all-cash transaction is not a routine purchase. It is a high-stakes play to secure the essential infrastructure that will power the next wave of enterprise artificial intelligence (AI).