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Investing.com -- Datavault AI Inc (NASDAQ:DVLT) stock jumped 21.1% in premarket trading Monday after announcing a multi-million dollar resource commitment from IBM (NYSE:IBM) to support the company’s AI data platform development.
The collaboration will provide Datavault with IBM’s engineering, technical sales, and quantum computing expertise to accelerate product development and market expansion. IBM will help integrate capabilities from watsonx.ai and watsonx.governance into Datavault’s platform, which focuses on data authentication, security, and monetization.
"Bringing our resources to support Datavault’s mission will help drive the data monetization of which companies of all sizes can take advantage," said Biz Dziarmaga, Head of Americas AI Partnerships at IBM. "Leveraging IBM’s platforms with Datavault’s innovations presents a compelling value proposition to customers worldwide."
The partnership comes at a strategic time as generative AI is projected to add between $2.6 trillion and $4.4 trillion in annual revenue across key business applications, according to McKinsey & Company.
Datavault AI’s platform aims to transform data into verifiable assets that can be authenticated and traded across various industries, from biotech to luxury goods. The company recently secured a $150 million strategic investment from Scilex Holding Company, strengthening its financial position to develop its data exchanges and technology infrastructure.
Datavault CEO Nathaniel T. Bradley expressed confidence that the IBM partnership "positions Datavault AI as the preeminent leader in valuing and scoring data assets on behalf of our customers through our patented platform."
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