IBM (NYSE: IBM) is launching a $500 million venture fund to invest in artificial intelligence (AI) companies.
According to the Armonk-headquartered company, the IBM Enterprise AI Venture Fund will invest in start-ups and current companies, providing these firms with partnership opportunities and operational expertise by IBM experts on product and engineering and go-to-market strategies.
IBM will be the sole investor of the Enterprise AI Venture Fund.
“AI is slated to unlock nearly $16 trillion in productivity by 2030,” said Rob Thomas, senior vice president of software and chief commercial officer at IBM. “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.”
