Wal-Mart Stores is creating what it’s calling a technology incubator in Silicon Valley that’s focused on technologies that will change how people shop.
Dubbed Store No. 8, named for an Arkansas location where Wal-Mart founder Sam Walton tested new store features, the new venture will try out and possibly invest in technologies like virtual reality, drone delivery and autonomous vehicles.
Don’t get your hopes up about shopping in the world’s coolest Wal-Mart. This will not be an actual store.
Store No. 8 acts much like a venture capital firm, working with startups, entrepreneurs and academicians.
The group, according to Wal-Mart spokesperson Ravi Jariwala, will back startups in various categories, such as machine learning, virtual reality and autonomous systems.