Oracle, IBM and Microsoft will invest more than $300 million in a “world-class AI and technology company” in the US and Europe this year, a statement from the firms said.
The companies said they would also invest in a robotics and artificial intelligence startup called Rethink Robotics.
“The world is on the cusp of a transformative new era in artificial intelligence,” Oracle CEO Larry Ellison said in the statement.
“Today, there are more AI and robots than ever before, and we can only expect more innovation and new business opportunities.”
The statement came a day after IBM and Oracle announced their intent to invest $300m in the firm Rethinking Robotics, which is developing software that helps robots understand and respond to humans.
IBM and IBM’s investment comes on the heels of another investment in the robotics company, which Oracle also invested in earlier this year.
IBM is the world’s largest software maker, with operations in more than 160 countries.
The software giant said it will use the funds to fund research into deep learning, artificial intelligence and machine learning.
Google, which announced its own $100m investment in Rethinks Robotics earlier this month, has also announced a $50m investment into the startup.
IBM has invested in Ressure Robotics in Australia, where it is developing artificial intelligence software for military aircraft, and the company said it would be investing in more AI startups in the future. ®