The move is part of IBM's commitment to 'responsible AI innovation'. The company has also invested in a $50 million series A round for Hidden Layer, a security provider for AI models and assets. The new fund is seen as the latest example of corporate venture capital firms investing in the AI startup sector, following similar moves by Salesforce, Workday, OpenAI, and Amazon.
Key takeaways:
- IBM is launching a $500 million venture fund to invest in a range of AI companies, from early-stage to hyper-growth startups, with a focus on accelerating generative AI technology and research for enterprises.
- The company has expressed its commitment to 'responsible AI innovation' through its new fund and its AI platform, watsonx.
- IBM has already invested in AI startups like Hugging Face and Hidden Layer, a security provider for AI models and assets.
- The IBM fund is part of a trend of corporate VCs investing heavily in AI startups, following companies like Salesforce, Workday, OpenAI, and Amazon.