Micron to invest $100 million in AI companies

Stefan Mileschin · 12th October 2018, 07:52

Going towards start-ups

Micron Technology has announced it will invest up to $100 million in startups working on artificial intelligence technologies for use in self-driving vehicles, factory automation and other growing fields.

The memory maker launched a corporate venture capital program more than a decade ago, but its investments until now had been “very sporadic” only when “very close to our core business” of making chips.

Sumit Sadana, Micron’s chief business officer, said the outfit could sell more memory chips by expanding its involvement in artificial intelligence because the field deals with huge amounts of data that need to be stored on its products.

He announced the move at Micron’s first artificial intelligence conference in San Francisco where it announced the move.

The newly earmarked funds will be invested in both hardware and software startups working on artificial intelligence, Sadana said. Micron is particularly interested in self-driving car technology, augmented and virtual reality, and the technology for automating factories, he said, because the firm already has businesses in those areas.

https://fudzilla.com/news/ai/47369-m...n-ai-companies

12th October 2018, 07:52	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,597	Micron to invest $100 million in AI companies Going towards start-ups Micron Technology has announced it will invest up to $100 million in startups working on artificial intelligence technologies for use in self-driving vehicles, factory automation and other growing fields. The memory maker launched a corporate venture capital program more than a decade ago, but its investments until now had been “very sporadic” only when “very close to our core business” of making chips. Sumit Sadana, Micron’s chief business officer, said the outfit could sell more memory chips by expanding its involvement in artificial intelligence because the field deals with huge amounts of data that need to be stored on its products. He announced the move at Micron’s first artificial intelligence conference in San Francisco where it announced the move. The newly earmarked funds will be invested in both hardware and software startups working on artificial intelligence, Sadana said. Micron is particularly interested in self-driving car technology, augmented and virtual reality, and the technology for automating factories, he said, because the firm already has businesses in those areas. https://fudzilla.com/news/ai/47369-m...n-ai-companies

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Toyota will reportedly invest $500 million in Uber	Stefan Mileschin	WebNews	0	28th August 2018 08:31
Intel And Micron Launch First QLC NAND: Micron 5210 ION Enterprise SATA SSD	Stefan Mileschin	WebNews	0	22nd May 2018 12:41
Email scheme stole $100 million from two US tech companies	Stefan Mileschin	WebNews	0	23rd March 2017 16:55
LG to invest $8.71 billion in OLED	Stefan Mileschin	WebNews	0	30th November 2015 10:48
Sony to invest $4 billion getting sensitive	Stefan Mileschin	WebNews	0	1st July 2015 08:03
Cisco to invest in French starters	Stefan Mileschin	WebNews	0	18th February 2015 08:58
Apple fines companies $50 million for leaks	Stefan Mileschin	WebNews	0	14th October 2014 08:10
Qualcomm to invest $121 million in Sharp to study its IGZO technology	Stefan Mileschin	WebNews	0	5th December 2012 08:02
Micron buys Elpida for $750 million	Stefan Mileschin	WebNews	0	3rd July 2012 07:15
Intel to Invest $345 Million at Two U.S. Manufacturing Sites	Sidney	WebNews	1	16th September 2005 16:04