QUALCOMM Incorporated (QCOM) Signs Deal with Tata Electronics to Produce Automotive Modules in India

QUALCOMM Incorporated (NASDAQ:QCOM) is one of the 12 Cheap Technology Stocks to Invest In According to Hedge Funds.

On February 20, QUALCOMM Incorporated (NASDAQ:QCOM) signed a deal with Tata Electronics to produce Qualcomm Automotive Modules in India.

Tata Electronics will manage manufacturing at its new semiconductor assembly and test facility, under development in Jagiroad, Assam. This partnership is set to address the rising demand for automotive digital platforms from domestic and international automakers. Qualcomm Technologies will integrate its network of global module suppliers with Tata and support the ‘Make in India’ programme through local production. Tata will engage in technologies such as digital cockpits, infotainment systems, connectivity solutions, and intelligent vehicle infrastructure.

The agreement with Tata follows Qualcomm’s announcement of an investment of around $150 million in India to support its rapidly growing technology and AI startup ecosystem. On February 18, QUALCOMM Incorporated announced that it plans to invest in India through Qualcomm Ventures and will invest in startups with a focus on AI for automotive, IoT, robotics, and mobile. This development aligns with Qualcomm’s leadership in advancing edge AI at a global scale. Qualcomm CEO Cristiano Amon said:

Through our new Strategic AI Venture Fund, Qualcomm is investing in companies that are advancing the next chapter of AI in India. AI is entering a new phase where intelligence is built directly into devices and systems people depend on every day, from smartphones and PCs to cars, industrial machines, robots, and more, delivering richer and more meaningful experiences.

QUALCOMM Incorporated (NASDAQ:QCOM) is focused on the development and commercialization of foundational technologies for the wireless industry. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI).

While we acknowledge the potential of QCOM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.  Follow Insider Monkey on Google News.