The vehicle will invest in a range of AI companies – from early-stage to hyper-growth startups – focused on accelerating generative AI technology and research for the enterprise.
With a differentiated model and strategy consisting of domain expertise from across IBM and a dedicated portfolio development team, the IBM Enterprise AI Venture Fund will invest in current and future AI leaders that are helping businesses around the world realize the potential of AI for business. the vehicle will provide each startup with opportunities to develop meaningful partnerships with IBM, while gaining operational expertise on product and engineering and go-to-market strategies.
IBM recently invested investments in AI technology and companies including Hugging Face, an open-source collaboration platform for the machine learning community, and HiddenLayer, a security provider for AI models and assets.
With the IBM Enterprise AI Venture Fund, the company plans to grow its ecosystem of AI partnerships – including working with companies leveraging and building on watsonx – and create long-term value for AI leaders as well as new and existing clients. In September, IBM announced the general availability of the first models in the watsonx Granite model series — a collection of generative AI models to advance the infusion of generative AI into business applications and workflows. Earlier this year, the company had also announced plans to host Meta’s Llama 2-chat 70 billion parameter model within watsonx.