© Qualcomm Components | November 30, 2018
Qualcomm launches $100 million AI investment fund
Qualcomm announces the launch of the Qualcomm Ventures AI Fund to invest up to an aggregate of USD 100 million in startups transforming artificial intelligence.
The fund will focus on startups that share the vision of on-device AI becoming more powerful and widespread, with an emphasis on those developing new technology for autonomous cars, robotics and machine learning platforms, a press release reads. Qualcomm has set out to make on-device AI technology ubiquitous by inventing, developing, commercialising and, importantly, investing in it. As AI shifts towards the wireless edge – combining essential on-device capabilities with the edge cloud – the industry is already starting to see the full potential of 5G. “At Qualcomm, we invent breakthrough technologies that transform how the world connects, computes, and communicates,” says Steve Mollenkopf, CEO of Qualcomm Incorporated, in the release. “For over a decade, Qualcomm has been investing in the future of machine learning. As a pioneer of on-device AI, we strongly believe intelligence is moving from the cloud to the edge. Qualcomm’s AI strategy couples leading 5G connectivity with our R&D, fueling AI to transform industries, business models and experiences.” As part of the AI Fund, Qualcomm Ventures participated in a Series A funding round for AnyVision, a face, body, and object recognition startup. This investment – the first made by the AI fund – will further AnyVision’s efforts to expand into other industries and develop new AI applications that transform how the world connects, computes and communicates. “Qualcomm Ventures is proud to invest in the future of AnyVision and many other key players in the AI industry,” says Quinn Li, senior vice president, Ventures, Qualcomm Technologies, Inc. and global head of Qualcomm Ventures. “This investment builds on our long history of successful AI investments, including Cruise Automation, Brain Corp., Clarifai, Prospera, SenseTime and Retail Next. Through the AI Fund, we’ll continue to seek out startups, with a focus on autonomous cars, robotics, computer vision and IoT, who are developing new AI applications, advanced machine learning technologies and AI/ML platforms across different verticals.”
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