Last week, tech and telecom companies made some huge moves in the Internet of Things. IBM (NYSE:IBM) announced its plans to purchase the digital assets and data sets from The Weather Company (The Weather Channel's parent company) and use the data to expand its weather analytics for businesses. 

Verizon Communications (NYSE:VZ) also made a big move into the Internet of Things (or, IoT) space when it said it would launch its own 4G LTE network specifically for small IoT devices. The company is also set to commercialize its big data processing engine for businesses, and debuted its own IoT platform.

Determined not to be left behind in the IoT space as it was in mobile, Intel (NASDAQ:INTC) said it would purchase cognitive computing start-up Saffron for an undisclosed sum. If Intel can pair cognitive computing with the its IoT chips, the company could create strong Internet of Things offerings that both power devices and analyze the information they collect. 

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Chris Neiger has no position in any stocks mentioned. The Motley Fool recommends Intel and Verizon Communications. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.