IBM shares are trading lower despite the company's expansion in Canada through agreements with the Government of Canada and Quebec to develop semiconductor modules. The combined investment is valued at approximately C$187 million, aiming to enhance Canada's position in the semiconductor supply chain. This move is expected to create high-paying jobs and strengthen supply chains. However, IBM's recent financial results showed a revenue increase of 1% year-over-year to $14.46 billion, missing the consensus estimate of $14.55 billion.