IBM launches $500m AI venture fund

IBM launches $500m AI venture fund

IBM HQ.jpg

IBM is launching a US$500 million venture fund to invest in a range of AI companies from early-stage to hyper-growth startups, focusing on accelerating generative AI technology and research for the enterprise.

The IBM Enterprise AI Venture Fund will invest in current and future AI leaders that are helping business around the world realise the potential of AI for business.

The fund will provide each startup with opportunities to develop meaningful partnerships with the company, 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 for 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 organisations put this transformational technology to work."

IBM says it has already demonstrated its commitment to promoting AI for business through its recent investments in AI technology and companies.

For example, the firm announced in August that it is participating in the $235 million Series D funding round of Hugging Face, an open-source collaboration platform for the machine learning community building the future of AI.

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