IBM purchased a data analytics startup and opened an AI accelerator

IBM announced the acquisition of Seek AI; the terms of the deal and the financial aspect of the purchase are not yet known. This startup is developing an AI platform.

Seek AI technology and a new AI accelerator

After the deal was announced, the founder of Seek AI stated that their technology will be the base technology for Watsonx AI Labs, an AI accelerator. Further scaling of the platform and expansion of the team were also announced.

The deal likely arose due to IBM's desire to invest in AI technology. IBM's revenue earlier this year has grown significantly due to increased demand for AI and software. 

The startup was founded in 2021 and focused on tools to improve interaction through the interface. With this kind of software, you can get high-level analysis using natural question formulation.

After the deal, the startup moved its headquarters to the One Madison building in New York, which also houses IBM's offices. In this way, the joint efforts will be consolidated into a “collective center”. Moreover, it is planned that Watsonx AI Labs will actively cooperate with research institutes.

If the product is successfully launched in the accelerator, the startup will have access to IBM resources and investments from the venture fund.