Qualcomm announced Wednesday it will invest $100 million in startup companies focused on commercializing artificial intelligence.
The San Diego-based wireless pioneer said its Qualcomm Ventures AI Fund will fund startups developing new technology for autonomous cars, robotics and machine-learning platforms.
“At Qualcomm, we invent breakthrough technologies that transform how the world connects, computes, and communicates,” said CEO Steve Mollenkopf. “For over a decade, Qualcomm has been investing in the future of machine learning.”
The company said it believes artificial intelligence processing is shifting toward the “wireless edge” because of advanced mobile devices.
“As a pioneer of on-device AI, we strongly believe intelligence is moving from the cloud to the edge,” explained Mollenkopf. “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 new effort, Qualcomm has already participated in a funding round for AnyVision, a face, body, and object recognition startup.