IBM announces $500 million AI venture fund
Fund will invest in early stage to hyper-growth start-ups.
If your start-up is in the artificial intelligence (AI) space, you no doubt took note of this news release.
IBM is launching a $500 million venture fund to invest in a range of AI companies – from early stage to hyper-growth start-ups – focused on accelerating generative AI technology and research for the enterprise.
With a differentiated model and strategy consisting of domain expertise from across IBM and a dedicated portfolio development team, the “IBM Enterprise AI Venture Fund” will invest in current and future AI leaders that are helping businesses around the world realize the potential of AI for business. Led by a dedicated team at IBM with decades of combined experience as highly successful investors and enterprise AI experts, the fund will provide each start-up in which it invests with opportunities to develop meaningful partnerships with IBM, while gaining operational expertise on product and engineering and go-to-market strategies.
“AI is slated to unlock nearly $16 trillion in productivity by 2030. With the launch of the ‘IBM Enterprise AI Venture Fund,’ we’re opening another channel to harness the enormous potential of the AI revolution into tangible, positive outcomes for IBM and the companies we invest in,” said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM. “This fund is yet another way we’re doubling down on our commitment to responsible AI innovation through watsonx and helping organizations put this transformational technology to work.”