IBM has launched a $500 million venture fund to invest in AI companies at various stages of development. The fund’s focus is on the development of generative AI technology and research for businesses, from early-stage startups to those in the hype stage.
“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. 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”, said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM.
IBM says its Enterprise AI Venture Fund approach is unique because it combines IBM’s domain expertise and a dedicated portfolio development team to invest in AI companies that are making a significant impact in the business world.
The fund will offer startups the chance to form partnerships with IBM, receive operational guidance, and enhance their product and engineering strategies. IBM, with its established history in enterprise AI, is leveraging its expertise and the latest generative AI innovations to expand its AI partnerships and create value for AI leaders and clients, both new and existing.