The AI Alliance, a collaborative initiative led by IBM and Meta, brings together organizations across industry, academia, research, and government to foster open innovation and science in AI. With a focus on safety, diversity, and economic benefits, the alliance aims to accelerate responsible AI innovation globally. Key objectives include developing benchmarks and standards, advancing open foundation models, supporting AI hardware acceleration, promoting global AI skills building, and educating the public and policymakers. Notable partners include AMD, CERN, Cornell University, Dell Technologies, Fast.ai, IBM, Meta, NASA, Oracle, Red Hat, and many universities and research institutions. Working groups will address specific areas, guided by a governing board and technical oversight committee. The alliance plans to collaborate with existing initiatives to ensure inclusive and impactful contributions to the AI space.