IBM Acquires Seek AI, Launches New AI Accelerator in New York City

IBM has announced the acquisition of data analysis startup Seek AI for an undisclosed amount. Founded in 2021 by Sarah Nagy, Seek AI provides a platform that enables users to query enterprise data using natural language, offering high-level data analysis and summarization through a chatbot interface. This strategic move aligns with IBM's broader focus on expanding its AI portfolio, especially for enterprise use. Nagy expressed excitement about the future, noting that Seek’s technology will play a crucial role in IBM's new AI accelerator, Watsonx AI Labs, which was unveiled on the same day. In a LinkedIn post, she said, “We’ll scale our platform, deploy mission-critical solutions for IBM clients, empower the next generation of AI developers, and grow our team significantly.” IBM’s decision to invest in AI comes at a time when the company is seeing robust growth in this sector. The tech giant's first-quarter earnings surpassed expectations, driven in part by strong demand for its AI solutions and software products. Seek AI, based in New York City, has already secured about $10 million in funding from notable investors such as Battery Ventures, Conviction Partners, and NJP Ventures. Once the acquisition is finalized, Seek AI will relocate its headquarters to One Madison, joining the newly established Watsonx AI Labs within IBM’s Manhattan office complex. Ritika Gunnar, IBM’s General Manager of Data and AI, highlighted the importance of the new facility: “Watsonx AI Labs is a collaborative hub where the best AI developers gain access to world-class engineers and resources to build new businesses and applications. By locating it in New York City, we are tapping into a diverse, world-class talent pool and a vibrant community known for shaping the tech landscape.” The Watsonx AI Labs is designed to bring IBM researchers and engineers together to develop AI solutions for companies. It also aims to foster partnerships with local colleges and research institutions. Startups that launch successful products through the accelerator will benefit from IBM’s extensive resources, including potential investment from IBM Ventures and its $500 million enterprise AI fund. This acquisition and the opening of Watsonx AI Labs reinforce IBM’s commitment to leadership in AI innovation. By integrating Seek AI’s advanced natural language processing capabilities and enhancing collaboration through the new accelerator, IBM is positioning itself to meet the growing needs of businesses looking to harness the power of AI and data.