New Delhi, Feb. 18 -- US chipmaker Qualcomm Inc has set aside $150 million for a dedicated venture capital fund targeting artificial intelligence startups in India, chief executive Cristiano Amon said on Wednesday.

The announcement, made during Amon's visit to India, comes after a spate of investment announcements on Tuesday, including the expansion of India Deep-Tech Alliance (IDTA)'s $1-billion fund for AI startups, and Peak XV Partners investing $13 million in five early-stage AI ventures.

"AI is entering a new phase, where intelligence is built directly into devices and systems that people depend on everyday-from smartphones and PCs to cars, machines and robots. This delivers richer and more meaningful experiences, and the shift to ...