Wednesday, November 28, 2018

Qualcomm Sets Up New, $100M AI Investment Fund

San Diego-based Qualcomm announced on Wednesday that it has launched a brand new, venture capital investment fund, which will focus only an artificial intelligence. Qualcomm said the new Qualcomm Ventures AI Fund, which is worth $100M, will go towards startups who are working around "AI becoming more powerful and widespread" on devices, with an emphasis on autonomous cars, robotics and machine learning. The first investment out of the fund is in AnyVision, a startup working on face, body, and object recognition. Qualcomm has been a fairly active corporate venture capital investor, via Qualcomm Ventures; the majority of the firm's venture investments have been strategic, in companies related to the company's core wireless technology IP.

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