15 AI News Investors Should Not Miss

7. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 54

International Business Machines Corporation (NYSE:IBM) is an American multinational technology company offering integrated solutions and services worldwide. The company’s artificial intelligence solutions include their IBM® watsonx™, an AI and data platform and portfolio of AI-powered assistants; IBM® Granite™, a family of open-source, high-performing, and cost-efficient models trained on trusted enterprise data; IBM Consulting, their AI services to redesign workflows; and hybrid cloud offerings that enable AI-ready infrastructure to better scale AI.

On Monday, October 21, International Business Machines Corporation (NYSE:IBM) introduced their latest versions of artificial intelligence models for businesses at IBM’s (NYSE:IBM) annual TechXchange event. Aiming to capitalize on the surge in businesses adopting “generative AI technology”, the new Granite 3.0 8B & 2B models, are the most advanced family of AI models to date. As per IBM, the third-generation Granite flagship language models show “strong performance across many academic and enterprise benchmarks”, and are “able to outperform or match similar-sized models”.

The new language models are designed as “workhorse” models for enterprise AI, excelling in tasks such as Retrieval Augmented Generation (RAG), classification, summarization, entity extraction, and tool use. Moreover, they are designed to be customized with enterprise data and effortlessly integrated into various business environments and workflows. In contrast to rivals that charge customers for access to their models, “Granite 3.0” models will be made open-source, and some versions will be available starting Monday for commercial use on the Watsonx platform. As per Dario Gil, IBM’s director of research, these new Granite models were trained using AI chip leader Nvidia’s H100 graphics processor units (GPUs).

In a post on X, Dan Ives, a Wall Street Analyst at Wedbush focusing on the Tech sector, states how IBM is amongst the companies making significant moves in artificial intelligence and capitalizing on the technology revolution. Stating optimism about the tech sector, he claims that the next phase of the AI revolution has begun. Moreover, the expanding AI landscape is a breeding ground for investment opportunities beyond the few companies that initially dominated the AI narrative.