IBM throws $1B at storage

Big companies love committing big money to technologies. But where does that money go?

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IBM’s at it again.

This week IBM announced it would pump $1 billion into developing new storage technology. Does Big Blue throwing $1B at something sound familiar? That’s because it is. Let’s recap IBM’s other billion dollar bets:

IBM isn’t alone either. Tech big-wigs love throwing making grandiose funding statements. We’ve seen HP and Cisco do it each with cloud computing, for example.

But when companies like IBM, HP and Cisco commit $1B to something, what’s really going on? It’s tough to track the money exactly. These companies don’t have to publicly report their investments in government filings, so we basically have to take them at their word. As one responder on Quora suggested, these types of funding promises can get pretty messy pretty fast.

As for IBM’s storage plans, the company has a new portfolio named Spectrum, which the company says will allow customers to centrally manage various storage assets across public, private and hybrid clouds as well as “extract intelligence” from it. The $1 billion will be used over five years to further advance this vision, as well as build a “multi-cloud connector” and develop OpenStack technologies.

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