SoftBank CEO Masayoshi Son said the company has begun using robotic assembly lines to mass-produce AI robots.

JP Morgan raised IBM’s rating from Neutral to Overweight and lifted its target price to $291 from $270, citing confidence that software will continue to accelerate growth. Analysts say IBM has spent the past decade repositioning toward hybrid cloud and AI with a software-led platform; software now accounts for roughly 45% of revenue but about two-thirds of consolidated profit. JP Morgan highlighted software’s higher margins, scalable revenue recognition, stronger cash conversion and higher-quality earnings as justification for a higher valuation multiple and called the company’s shift into software a positive for the stock.

STOXX Europe 50, German DAX and UK FTSE futures fell more than 1%; Nasdaq-100 futures widened losses to 1.8%, S&P 500 futures were down nearly 1% and Dow futures fell 0.34%.