Watson won 'Jeopardy,' but IBM is not winning with artificial intelligence

The Watson win was a major win for IBM IBM, -0.31% at the time, underscoring its transition to a new-age technology company with artificially-intelligent computers. On Friday, shares of IBM fell 3% to $154.45 after billionaire investor Warren Buffett announced that his company Berkshire Hathaway Inc. BRK.A, -1.07% It has unloaded 30 million shares so far in 2017, from the 81 million shares it held at the end of 2016. Buffett bought more than $10 billion in IBM shares the year Watson won "Jeopardy," and increased his stake a few more times in the years proceeding. IBM reported profit and revenue declines, even as its newer software-as-a-service business saw revenue gains of 60%.