IBM Launches $500M AI Venture Fund
IBM is stepping up its artificial intelligence (AI) investments with the launch of the IBM Enterprise AI Venture Fund, a $500 million fund focused on investing in a range of AI companies, from early-stage startups to hyper-growth organizations.
The fund will focus on advancing generative AI technology and research for the enterprise, with the goal of enhancing AI’s role in business operations globally.
Through the Enterprise AI Venture Fund, IBM aims to expand its AI partnership ecosystem, working closely with companies that are using and building on watsonx, the company’s AI and data platform.
“AI is slated to unlock nearly $16 trillion in productivity by 2030,” said Rob Thomas, SVP, Software and CCO, 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.”
In August, IBM participated in a $235 million Series D funding round for Hugging Face, an open-source collaboration platform for the machine learning community. Big Blue also participated in a Series A funding of HiddenLayer, a provider of security solutions for AI models and assets.