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Walmart is opening its own tech incubator in Silicon Valley
Like Target and Amazon, Walmart is trying to figure out what the future of retail looks like. The company already bought up startups like Jet.com and clothing store ModCloth to better compete online, but Walmart's next move will invest some of its sizable coffers directly in the next generation of retail technology startups through its own tech incubator. According to Jet.com founder and Walmart's CEO of e-commerce Marc Lore, who announced the project at this year's Shoptalk conference, the group will be called "Store No. 8" and will focus on investing in companies that cover all the buzzwords from virtual and augmented reality, to machine learning, robotics and artificial intelligence.
