Qualcomm invests in 9 Chinese startups

US chipmaker Qualcomm Inc on Wednesday said it has invested in nine Chinese startups, including Beijing-based image recognition startup SenseTime and Chinese bike-sharing titan Mobike Technology Co Ltd, as it attempts to create new momentum in key markets.

The move is also part of the company's $150 million strategic investment plan announced in 2014 for China's technology market and came as it further expands into artificial intelligence and the internet of things business.

Quinn Li, Qualcomm's vice-president and global head of Qualcomm Ventures, said by providing financial and technical support for the nine companies, Qualcomm aims to help them make further breakthroughs in the fields of AI and IoT.