Sprouts Farmers Market closes $600 million revolving credit facility
REDWOOD CITY, Calif & ARMONK, N.Y. - Box, Inc. (NYSE: BOX) and IBM (NYSE: IBM) have announced a partnership aimed at accelerating the adoption of artificial intelligence (AI) in enterprise content management. Box will incorporate IBM’s AI models, including open-source IBM Granite and the latest from Meta’s Llama, into its Intelligent Content Management platform, Box AI.
The collaboration is designed to help organizations unlock the value of their unstructured data, which makes up the majority of enterprise data and includes documents like contracts and spreadsheets. By leveraging AI for content-driven workflows, companies can automate processes such as data extraction and document processing, enhancing productivity and decision-making. With a steady revenue growth of 5% over the last twelve months and a beta of 0.96, Box shows relatively stable market performance. InvestingPro subscribers can access 10+ additional exclusive insights about Box’s growth potential and market position.
Box is also utilizing IBM watsonx.governance to internally manage the lifecycle of its AI models, ensuring compliance with regulations. Similarly, IBM is incorporating Box AI into its operations to improve employee productivity.
Aaron Levie, CEO of Box, highlighted the transformative potential of AI in knowledge work, stating that AI can accelerate content-related processes exponentially. Rob Thomas, IBM’s Senior Vice President, echoed this sentiment, emphasizing the need for purpose-built AI solutions for business.
The partnership extends to IBM’s use of Red Hat OpenShift for scalable AI application development, enabling Box to deploy AI-driven workflows efficiently across cloud environments.
Box AI with IBM watsonx is now available to Box Enterprise Advanced customers and can be accessed via Box AI Studio and APIs. IBM, as an authorized reseller of Box products, will offer a seamless experience with its AI models to customers purchasing through IBM.
Details about the partnership and the capabilities of Box AI with IBM watsonx will be shared at the upcoming IBM Think conference on May 5-8 and the Box Content + AI Summit on May 15, 2025.
This news is based on a press release statement, which provides the information about the partnership between Box, Inc. and IBM to integrate AI into enterprise workflows.
In other recent news, Box, Inc. has achieved FedRAMP High Authorization, allowing U.S. government agencies to manage highly sensitive data using its services. This authorization, granted by the U.S. Department of Veterans Affairs, highlights Box’s compliance with stringent security standards, enhancing its position in sectors like law enforcement and healthcare. Additionally, DA Davidson has reaffirmed its Buy rating on Box with a $45 price target, citing the company’s AI strategy and workflow automation solutions as key growth drivers. Citi also maintained a Buy rating but with a $39 price target, noting Box’s focus on artificial intelligence and improved financial forecasts, including a 35-38% free cash flow margin. Raymond James continues to rate Box as Outperform with a $38 target, emphasizing the company’s advancements in AI and its potential to enhance workflow automation. Box’s strategic direction and technological innovations are seen as pivotal in maintaining its competitive edge and supporting long-term growth prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.