Orlando Bravo and IBM CEO Arvind Krishna on AI, the Future of Software, and IBM’s $34B Red Hat Deal

Recorded live at Thoma Bravo’s 2025 AI Summit, this episode features a fireside chat between Thoma Bravo Founder and Managing Partner Orlando Bravo and IBM CEO Arvind Krishna. Krishna shares an operator’s view on why AI is unequivocally good for software—boosting developer productivity, expanding entry-level hiring, and unlocking billions in back-office automation that IBM has reinvested into software R&D and growth.

The conversation also explores IBM’s $34 billion acquisition of Red Hat, including the strategic investment in hybrid cloud and OpenShift, how the deal scaled beyond expectations, and why conviction was critical despite initial market skepticism. 

Looking ahead, Krishna outlines what’s next for enterprise AI: agents layered on systems of record, smaller purpose-built models, and why companies that scale AI deliberately will pull ahead.

For more information on Thoma Bravo's Behind the Deal, visit https://www.thomabravo.com/behindthedeal

Learn more about Thoma Bravo: https://www.thomabravo.com/

Learn more about IBM: https://www.ibm.com/case-studies/ibm-client-zero?lnk=hpls1us

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