#Asia Samsung is planning to create a US$1B fund for AI deals

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It wants to make a more aggressive push into the artificial intelligence field

Samsung is mulling a plan to create a new US$1 billion fund specifically to fund artificial intelligence related companies, according to The Korea Herald, which cited a Chosun Biz report.

According to the report, an anonymous US-based Samsung official based in the US said that the Korean electronics giant will either acquire or purchase stakes in AI firms.

The report emphasised that Samsung wants to ramp up more “fundamental investments into AI”, and avoid the same mistake of passing over purchase of the then-nascent Android OS in 2005, which would have reaped manifold dividends if the deal had been successful.

Last year, Samsung went on an acquisition spree, purchasing 10 companies; its largest being an US$8 billion deal in car infotainment company Harman.

In the AI field, Samsung bought US-based personal assistant Viv for an undisclosed amount, and this year it co-invested in a US$75 million deal with Nvidia in voice assistant Soundhound.

 

 

The post Samsung is planning to create a US$1B fund for AI deals appeared first on e27.

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