Boeing Takes Stake in AI, Machine Learning Tech Developer

The Boeing Co. is investing an undisclosed amount in SparkCognition, helping the Austin, Tex.-based company close a $32.5 million funding round. Boeing's stake was placed through HorizonX, a venture it set up recently to direct investment capital for technology commercialization and new market access. SparkCognition develops "machine learning technology" -- i.e., artificial intelligence -- particularly for applications in information technology, energy, oil-and-gas, manufacturing, finance, aerospace, defense, telecommunications and security. Boeing was joined in the investment by Verizon Ventures, a private equity group. SparkCognition founder and CEO Amir Husain said the new investment "serves as tremendous validation of our technology and track record."