IBM Unveils Spectrum Storage, Investing $1Bn On Storage Software


IBM unveiled a new storage software portfolio on Tuesday. The company also announced plans to invest more than $1 billion in its storage software portfolio over the next five years. The investment will focus on R&D of new cloud storage software, object storage and open standard technologies including OpenStack.

IBM says it is working on an accelerated roadmap to extract intelligence from its traditional storage hardware products, which will let clients to use it in any form – as-a-service, as an appliance, or, as software. Its Spectrum Storage incorporates more than 700 patents, and can manage massive amounts of data from a single dashboard, according to the company, while Spectrum Accelerate is the first software product that the company has based on the software from its XIV high-end storage appliance. Building off an IBM Research invention, IBM plans to introduce a multi-cloud connecter as a software feature in IBM Spectrum Storage.3 later this year.

[Image courtesy: IBM]

Just in

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.