20 AI News Investors Should Not Miss

7. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 100

QUALCOMM Incorporated (NASDAQ:QCOM) is an American multinational corporation engaged in the design and manufacture of semiconductors and wireless telecommunications products. The company has been developing and integrating generative AI capabilities across its extensive semiconductor line for the past few years. The company’s end goal for its AI technology is “embodied AI”, which involves integrating machine learning, multimodal AI, and LLM technology into a hybrid, always-on AI.

On October 22, QUALCOMM Incorporated (NASDAQ:QCOM) said it was partnering with Alphabet’s Google to offer a combination of chips and software that will allow automakers to develop their own AI voice assistants. By combining Qualcomm Snapdragon CPUs and Google AI technology, automakers will be able to create their own personalized voice assistants in their vehicle systems. The two companies said that the joint offering will allow automakers to create unique voice assistants that don’t rely on a driver’s phone.

“Typically, we have operated together, but independently – we plan a lot of things together, but we go to customers separately. We decided we should think about this differently because it will reduce a lot of friction and confusion.”

– Nakul Duggal, group manager for automotive at Qualcomm, said of the Qualcomm-Google relationship.

QUALCOMM Incorporated (NASDAQ:QCOM) also rolled out two new chips, the Snapdragon Cockpit Elite and the Snapdragon Ride Elite. The former is used to power dashboards, while the latter is for self-driving features. Mercedes-Benz plans to incorporate Qualcomm’s Snapdragon Elite Cockpit chip in future vehicles. However, the details on when or which models the chip will be used is still unclear.