- IBM (IBM) plans to invest over $1B to establish a new business unit for its Watson supercomputer, which the company apparently hopes will generate $10B within 10 years.
- The money will include $100M for a venture-capital fund to spark more activity at the Watson Developers Cloud after IBM opened it up to external programmers last year.
- The company plans to boost the headcount at IBM Watson Group to around 2,000, with many of the new recruits to be salespeople and consultants who will assist customers in working out how to use Watson.
- The news follows a report that IBM has had trouble making money from Watson - the initiative had brought in less than $100M as of October, due to various projects going awry or proving to be far more difficult than expected.
IBM to invest over $1B in Watson business unit
Jan 9 2014, 04:56 ET