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The Week in IoT: Samsung invests US$22bn, Sierra swats analysts with results, and Siemens splashes the cash

August 09, 2018 / JEREMY COWAN

It’s been quite a week for the tech sector. Some vendors are betting the farm to catch up or just to find a niche in the Internet of Things. Others are smirking as they see a return on earlier IoT investments. Jeremy Cowan reports from a volatile marketplace. Samsung Group is throwing US$22 billion (yes, you read that right) into artificial intelligence (AI) and other new technologies, Siemens continues to buy business, IBM has opened four new testing centres to focus on security for automotive and industrial Internet of Things (IIoT) applications, Intel is focusing on chips for AI, while Sierra Wireless says “I told you so!”. Seoul, Korea-based Samsung Group (005930.KS) has told Reuters it will invest 25 trillion won ($22 billion) in artificial intelligence, 5G mobile technology, electronic components for vehicles, and the biopharmaceutical business in pursuit of new growth areas.