Qualcomm Inc (QCOM): Qualcomm bets $100 million on AI via inv...

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Thursday, 11/29/2018 8:14:09 AM

Thursday, November 29, 2018 8:14:09 AM

Qualcomm bets $100 million on AI via investment fund
By: MarketWatch | November 28, 2018

Qualcomm Inc. QCOM, +1.32% said late Wednesday that it had launched a venture capital-style-investment vehicle with a $100 million budget to invest in artificial intelligence startups. Qualcomm stock was up 0.6% after hours. The company said its investments would focus on self-driving cars, machine learning and robotics that seek to make "on-device AI more powerful and widespread." Qualcomm said it had invested an undisclosed amount in a "face, body, and object recognition startup" called AnyVision. Qualcomm stock has fallen 12% this year, as the S&P 500 index SPX, +2.30% has gained 0.3%.

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