IBM (NYSE: IBM) has launched a $500 million venture fund intended for artificial intelligence-focused early-stage and hyper-growth startups.
The company said Tuesday IBM Enterprise AI Venture Fund will support the advancement of generative AI technology and research while expanding the company’s AI partnership ecosystem.
The investment is for current and future AI leaders working to accelerate the application of AI. Support will also include domain expertise and a portfolio development team from IBM.
Each startup will have the opportunity to partner with the multinational technology corporation and gain insights about product and engineering and go-to-market strategies.
IBM wants to capitalize and ride on the latest wave of AI innovation in generative AI through its AI and data platform watsonx.
