I really have no idea how IBM is still in business, or the other big toxic techs like Oracle and Salesforce. Just goes to show I don’t know as much about the industry as I think.
They bought Red Hat, which has OpenShift and all their other "DIY Cloud" bits. This stuff is popular in government or old businesses that may have been slow to (or unable to for regulatory reasons) jump to AWS/GCP etc.
To say nothing of the banks and others still using the IBM big iron.
Oracle basically runs HR and finance services for like every large company in Europe. They also run a scary amount of healthcare stuff and other government tech type stuff.
It sucks but I see why they do it. If you don't have the technical/managerial talent to handle procurement then it's the safest bet.