Qualcomm sets up $200m fund to expand 5G

The communication giant’s aim is to ‘fuel innovative 5G businesses’

Qualcomm Incorporated has set up a fund to build up the 5G ecosystem, as the US chip giant aims to invest in more startups. The aim is to commercialise and expand 5G wireless technology into enterprise markets.

The $200m (£155m, €180m) Qualcomm Ventures 5G Ecosystem Fund is designed to help accelerate 5G innovation beyond the smartphone.

It will also focus on developing new and innovative 5G cases, the company said in a statement.

Steve Mollenkopf, Qualcomm CEO, said the intent is to “fuel innovative 5G businesses that will be poised to take advantage of the $13.2tr economic benefit that 5G will enable by 2035”.

What is your sentiment on QCOM?

128.35
Bullish
or
Bearish
Vote to see community's results!

Last year, Qualcomm announced the launch of the Qualcomm Ventures AI Fund, which invested in startups using on-device AI.

The venture capital investment group of Qualcomm Incorporated, Qualcomm Ventures has a track record of investing in leading global startups. More than 350 investments have been made since the group started in 2000.

These include companies like Zoom, Cloudflare, AMEC, Xiaomi, Cruise Automation, 99, Thundersoft, Fitbit and Waze.

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image