Qualcomm Announces $100m Metaverse Investment Fund

Qualcomm has announced a $100 million investment fund for crypto companies.

The San Diego-based chip supplier’s fund will go to companies building the metaverse using augmented reality, mixed reality or virtual reality.

The Qualcomm Chief Financial Officer said in an interview with the Wall Street Journal that the company aims to broaden the market for its chips through this new Snapdragon Metaverse Fund.

He added that the fund would begin accepting applications in June.

On its website, Qualcomm said that the “Snapdragon XR1 and XR2 platforms are purpose-built to meet the particular demands and requirements of today’s virtual reality and augmented reality devices.”

The company added that it has planned to “deploy capital through a combination of venture investments in leading XR companies by Qualcomm Ventures and a grant program by Qualcomm Technologies, Inc. for developer ecosystem funding in XR experiences.” The XR experiences include gaming, health and wellness, media, entertainment, education and enterprise.

Among other notable achievements, Qualcomm’s portfolio includes chips for virtual reality headsets and a partnership with Microsoft for creating chips engineered for augmented reality. The deal generates 17% of its $10.7 billion revenue from selling chips related to the metaverse.

A growing number of startups have received funding to support the creation of virtual world initiatives; for example, firm Space Runner had raised $10 million to create fashion and other wearables as digital assets.

Popular entertainment conglomerate Disney has also made a move to grow its metaverse reach. While there is also an increasing number of firms that are filing trademarks related to trading items in many virtual spaces.

Qualcomm CEO: Generative AI Will Redefine the Smartphone Industry in 2024

2024 marks a pivotal year in the integration of generative AI into smartphones, as predicted by Qualcomm CEO Cristiano Amon, in an interview with Financial Times. This evolution is expected to redefine the smartphone market, traditionally dominated by Apple and Google, by offering enhanced AI features and creating new growth opportunities. As generative AI rapidly enters the mobile realm, it will not only elevate user experiences but also reshape industry dynamics.

The shift towards AI-enhanced smartphones is underpinned by several key developments:

Hybrid AI Models

Innovations in AI model training are leading to smaller, more efficient AI processors and models. These advancements allow complex AI calculations, traditionally performed in the cloud, to be executed directly on personal devices. Hybrid AI, combining both local device and cloud processing, is emerging as a cost-effective solution, offering more accurate and personalized AI responses based on real-time contextual information.

Enhanced User Experience

AI applications running directly on devices offer faster response times and better user experiences. Advanced features like text input smart assistance and intelligent photo management are transforming how users interact with their devices, moving beyond traditional capabilities to provide more personalized and context-aware services.

Changing Industry Landscape

The integration of AI features is expected to trigger a new round of smartphone market growth, particularly in high-end products. This shift could disrupt the industry status quo, enabling companies like Microsoft and Meta to gain influence in the mobile industry and challenge the long-standing dominance of Apple and Google.

Spatial Computing and AR/MR

Generative AI is also being integrated into VR technology, with significant potential in augmented and mixed reality glasses. This new computing platform is set to further expand AI’s impact, particularly in lightweight wearable devices like Meta’s Ray-Ban smart glasses.

Future Prospects

Qualcomm, with its strong position in the chipset and automotive industries, stands to benefit significantly from this AI-driven transformation. The company is exploring partnerships and innovations in various domains, including PCs and automotive, to leverage AI’s capabilities.

Indeed, several mobile companies are heavily investing in AI phones. According to blockchain.news, Samsung is preparing to unveil its Galaxy S24 series at the Galaxy Unpacked 2024 event on January 17 in San Jose. This series marks Samsung’s first venture into AI phones, promising a revolutionary AI-driven mobile experience. The S24 is anticipated to feature advanced AI capabilities, similar to sophisticated systems like ChatGPT, offering more intuitive and personalized user interactions. While detailed specifics remain undisclosed, it is noted that some AI features will require internet connectivity. This launch represents a strategic shift by Samsung towards AI-centric innovation, generating considerable excitement among consumers and tech enthusiasts for the future of mobile technology.

In summary, 2024 is anticipated to be a transformative year for AI in smartphones, driven by technological advancements and changing industry dynamics. This evolution presents a significant opportunity for companies like Qualcomm to redefine the smartphone experience and compete in new markets.

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