IBM R&D in AI and now has eyes on a NYC office

International Business Machines Corporation (NYSE: IBM) reported gains on their Q1 back in April, upwards of $33B or 42% YOY. IBM is concentrating their efforts on cloud computing as well as AI development in their May 2, 2017 AI seminar. The seminar revealed the investment in AI Market, cognitive computing and machine learning, has grown significantly from 2011 at $280M to a whopping $5B in 2016. Ginni Rometty, Chairman of, president and CEO of IBM, states: "In the first quarter, both the IBM Cloud and our cognitive solutions again grew strongly, which fueled robust performance in our strategic imperatives, …In addition, we are developing and bringing to market emerging technologies such as blockchain and quantum, revolutionizing how enterprises will tackle complex business problems in the years ahead."

 In addition to IBM’s innovation, the massive tech company is looking to hold a membership with the WeWork office space located at 88 University Place in NYC.  There are talks of the innovative company to be temporarily moving as much as 600 employees to a NYC location, according to The Real Deal. The IBM Headquarters is currently located in Armonk, NY.  This may potentially be the new headquarters for IBM at a whopping 70,000 square feet in a 10 story, 1906 built, Greenwich Village building. Conveniently located near the cultural hub of Union Square.

Fun fact, the building located at 88 University place was bought by designer Eli Tahari for $70M in 2015 according to public records.

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