Qualcomm deepens India play with $150 mn AI venture commitment
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New Delhi: Global chip major Qualcomm Incorporated plans to invest up to USD 150 million, or about Rs 1,360 crore, to support India’s rapidly expanding technology and AI startup ecosystem, the company said on Wednesday. The investments will be deployed through Qualcomm Ventures and will be made in startups across all stages, with a particular focus on AI for automotive, IoT, robotics, and mobile, the company said in a statement. “Qualcomm Incorporated... announced its intention to invest up to USD 150 million to support India’s rapidly expanding technology and AI startup ecosystem,” it said. The announcement coincides with Qualcomm CEO Cristiano Amon’s participation in the Summit. “Through our new Strategic AI Venture Fund, Qualcomm is investing in companies that are advancing the next chapter of AI in India,” Amon said.
