US technology company Qualcomm has announced it is to invest €125m to transform its Cork site into a strategic AI pillar in the global chipmaker's organisation over the next three years.
The expansion comes on the 10th anniversary of the firm hiring its first engineer in Ireland and is expected to see headcount at its Penrose and Horgan's Quay facilities increase to more than 1,000 people.
The company has had a presence in Cork since 2013 and in that time has worked with regional higher level institutions to support the next generation of Irish engineers through internships and graduate role opportunities.
The new project, which is supported by the Irish Government through IDA Ireland, plans to undertake a new RD&I project in Cork, leveraging current capabilities to align with Qualcomm's diversification strategy.
"Qualcomm's success and ongoing growth in Ireland reflect the strength of our partnerships with the Government, IDA Ireland and Irish universities," said Colin Ryan, the company's EVP, Chief Strategy and Corporate Development Officer.
"This investment underscores Cork's importance as a strategic global R&D hub for Qualcomm and our commitment to supporting Ireland's innovation ecosystem."
Jobs
Founded in 1985 and headquartered in San Diego, Qualcomm is a global leader in wireless technology and advanced semiconductors.
The company develops cellular standards such as 4G, 5G and now 6G and is also one of the world's largest fabless semiconductor companies, which sees it provide critical advanced semiconductor technology.
The revamped Cork site will see Qualcomm focus on areas beyond mobile technology such as PC, XR/VR, IoT, automotive and data centres.
The investment will help strengthen Ireland and Cork's position as a global hub for R&D by creating hundreds of highly-skilled new R&D roles.
It will further support Qualcomm's aim of advancing AI to make its core capabilities — perception, reasoning and action — ubiquitous across devices.
'World leader'
Peter Burke, Minister for Enterprise Tourism & Employment, described the news as 'a powerful endorsement of Ireland's ambition to lead globally in advanced research, next generation computing and AI'.
"This €125m investment further strengthens Ireland's position as a hub of deep tech innovation, creating hundreds of high-value jobs," he added.
"This announcement is also a signal of support for Silicon Island: Ireland's National Semiconductor Strategy, which aims to make Ireland a world leader in semiconductors through securing long-term investments, developing a robust talent pipeline and seizing opportunities in technologies of the future such as AI.
"Qualcomm's continued expansion builds on Ireland's strong semiconductor ecosystem and demonstrates the value of the collaborative environment we have fostered between industry, academia and government.
"The government is proud to support this strategically significant project through IDA Ireland, and I wish the team at Qualcomm the very best for the future."
