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November 16, 2017

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Funding for ‘AI and chip’

SENSETIME, China’s leading artificial intelligence unicorn startup, said yesterday it has secured an investment from US chip giant Qualcomm to co-develop an “AI and chip” strategy to boost development of an on-device AI.

Separately, Qualcomm said yesterday it will invest in nine Chinese startups including SenseTime and Mobike, but it didn't reveal the investment figures. The nine invested firms include those involved in AI, online learning and sharing bike service.

Qualcomm's investments are noteworthy because the company recently rejected an acquisition proposal worth over US$100 billion from Broadcom.

The explosive growth of intelligent terminals has driven large-scale implementation of AI technology covering smartphones, cameras, robots and the Internet of Things.

China has put out a national blueprint which envisions the value of the country's core AI industries to exceed 150 billion yuan (US$22.7 billion) by 2020 and 400 billion yuan by 2025.



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