ARMONK, N.Y. - IBM (NYSE: IBM) and the Ultimate Fighting Championship (UFC) have entered into a partnership to develop the UFC Insights Engine using IBM's artificial intelligence platform watsonx, aiming to transform the way fans engage with mixed martial arts viewing. The collaboration marks the first occasion UFC has designated an Official Global AI Partner, a role now filled by the tech giant.
The UFC Insights Engine is designed to leverage IBM's data and AI technologies, including its Granite large language models, and UFC's extensive data collection to provide viewers with advanced analysis and insights during live events. This includes real-time updates on fighter trends, match outcome projections, and methods of victory, all engineered to enhance the in-arena and broadcast experience.
Grant Norris-Jones, Head of Global Partnerships at TKO, UFC's parent company, emphasized the significance of the partnership with IBM, stating it as a "game changer" for fan experience and a "pivotal win" for both organizations and their global audience.
IBM's involvement will not only enhance UFC's current capabilities but also aims to scale them, offering fans unique content experiences and access to fight information. The Insights Engine is anticipated to debut in early 2025 and will be integrated across UFC's consumer platforms, including social media, Pay-Per-View broadcasts, and in-venue displays.
Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM, highlighted the potential of data and AI solutions like the UFC Insights Engine to connect fans with their favorite sports and athletes in new ways, as well as to attract new fan bases.
Alon Cohen, Senior Vice President of UFC Research and Development, acknowledged IBM's pioneering role in AI and expressed enthusiasm for the partnership's ability to bring the long-conceived Insights Engine to fruition.
The UFC, known for its extensive reach with over 700 million fans and broadcasts in 170 countries, continues to innovate in sports entertainment. IBM, with its expertise in AI and hybrid cloud technologies, supports clients across various industries in achieving digital transformation.
This news is based on a press release statement.
In other recent news, Apple Inc (NASDAQ:AAPL). and International Business Machines Corporation (NYSE:IBM) have been the subjects of recent analyst reviews and earnings reports. Bernstein SocGen Group reiterated an Outperform rating for Apple, maintaining a $240 target price, noting that despite potential tariff impacts, Apple's high product gross margins could mitigate a significant profit hit.
IBM, in its Q3 2024 financial report, disclosed a total revenue of $15 billion, with software revenue growing by 10% and Red Hat's performance increasing by 14%. The company also announced a regular quarterly cash dividend of $1.67 per common share, continuing its tradition of returning value to shareholders.
BMO Capital Markets upgraded their price target for IBM to $260 while maintaining a Market Perform rating, emphasizing the ongoing solid growth in software, which is expected to continue into fiscal year 2025 (FY25).
These recent developments provide insights into the performances and expectations of Apple and IBM, two major players in the tech industry.
InvestingPro Insights
IBM's partnership with UFC to develop the UFC Insights Engine using AI technology aligns well with the company's position as a prominent player in the IT Services industry, as highlighted by InvestingPro Tips. This collaboration could potentially contribute to IBM's revenue growth, which stood at 2.3% over the last twelve months according to InvestingPro Data.
The company's strong financial position is evident from its market capitalization of $195.03 billion and a robust EBITDA of $14.68 billion for the same period. These figures suggest that IBM has the resources to invest in innovative projects like the UFC partnership.
InvestingPro Tips also reveal that IBM has raised its dividend for 29 consecutive years, indicating a commitment to shareholder returns. This could be attractive to investors looking for stable income alongside potential growth from AI initiatives. The current dividend yield stands at 3.17%, which may appeal to income-focused investors.
It's worth noting that IBM's stock has shown a strong performance recently, with a 28.13% price total return over the past six months. This upward trend might reflect market optimism about IBM's strategic moves in the AI space, including partnerships like the one with UFC.
For readers interested in a more comprehensive analysis, InvestingPro offers additional tips and insights on IBM's financial health and market position. In fact, there are 8 more InvestingPro Tips available for IBM, providing a deeper understanding of the company's prospects and challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.