IBM Unleashes $500 Million Fund for AI Companies!
Big Blue is making a big splash in the AI world with a whopping $500 million fund set to invest in AI companies of all shapes and sizes. The focus? Advancing generative AI technology and research for businesses, from fledgling startups to those in rocket-fueled growth phases.
But here’s the kicker – IBM’s approach is like no other. They’re utilizing their own expertise and a dedicated portfolio development team to hand-pick the cream of the AI company crop. This allows the startups to leverage partnerships with IBM, gain expert guidance, and take their product and engineering strategies to the next level.
A $16 trillion productivity boost from AI by 2030? Count us in! And IBM is right there with us, doubling down on their commitment to responsible AI innovation through watsonx. Talk about putting your money where your mouth is!
The best part? IBM has already thrown down for prominent players in the AI game. Take Hugging Face, for instance – a major open-source platform for the machine learning community. IBM’s contributions to Hugging Face have resulted in the release of the largest open-source AI foundation model developed alongside none other than NASA.
Oh, and let’s not forget about the Series A funding for HiddenLayer, a top-tier security provider for AI models and assets. Are we seeing a pattern here? IBM has got its wallet open and ready to write checks for AI companies on the rise.
And there you have it, folks! Big Blue is planting serious roots in the world of AI, and we can’t wait to see what this $500 million fund is all about! What do you think about IBM’s new venture? Can it really make a dent in the future of AI? Let us know in the comments below!
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