Chip supplier Qualcomm creates $100 million metaverse investment fund

San Diego-based chip supplier Qualcomm is launching a $100 million investment fund intended to support companies building out the metaverse using augmented reality, mixed reality or virtual reality., according to the Qualcomm Chief Financial Officer in an interview with the Wall Street Journal. The fund will begin accepting applications in June.

Qualcomm already provides chips for virtual reality head sets and has secured a partnership with Microsoft for creating chips designed for augmented reality, generating 17% of its $10.7 billion revenue from selling chips related to the metaverse. An increasing number of startups have gotten funding to build out virtual world initiatives, such as firmProminent companies like entertainment conglomerate

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia’s GTC Shows The Company Has Not Slowed Down Chip DevelopmentNvidia Hopper Brings Massive Scale and Changes to CUDA at GTC 2022. The H100 chip has a massive 80 billion transistors in TSMC’s special 4nm process optimized for Nvidia. To go with Hopper, Nvidia will also release Arm-based Grace next year. Thanks for the call out!
Source: ForbesTech - 🏆 318. / 59 Read more »

Qualcomm bets on the metaverse with a new $100 million investment fundSnapdragon Metaverse Fund aims to jumpstart virtual reality and augmented reality outfits toward creating foundational technologies and content for the metaverse.\r\n•
Source: sdut - 🏆 5. / 95 Read more »