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Laxman Pai, Opalesque Asia: American multinational technology corporation IBM announced the launch of a $500 million Enterprise AI Venture Fund, which will be focused on "accelerating generative AI technology and research for the enterprise."
The move comes as other tech giants also ramp up their investments in the AI startup ecosystem. A few weeks ago, large language model developer Anthropic PBC secured funding rounds worth up to $6 billion from Amazon.com Inc. and Google LLC. More recently, Hewlett Packard Enterprise Co. and SAP SE joined a $500-million-plus investment into German AI provider Aleph Alpha GmbH.
"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 of 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," Rob added.
According to a press release from the largest industrial research organization in the world, 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 ...................... To view our full article Click here
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