Briefing

Qualcomm Ventures sets up US$100 million fund dedicated to artificial intelligence

The corporate venture arm of the San Diego, Calif.-based chipmaker announced it will provide funding to startups building AI that runs on end devices such as smartphones or vehicles, rather than in the cloud. Albert Wang, Qualcomm’s investment director leading the fund, said this focus will encourage more privacy-focused and user-friendly tech, like an Alexa that doesn’t need to take a user’s questions or information to the cloud. The AI fund’s investments will range from US$1 million to US$10 million per deal. (TechCrunch)

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