March 15, 2017
Santa Clara, CA-based Intel Corp. made a $15.3-billion bet on securing a position in the burgeoning Bay Area automotive supply chain. The semiconductor giant’s acquisition of Israeli car-camera innovator Mobileye NV is also a signal that it wants to play a much bigger role in the future of autonomous driving.
Intel joined the global race to develop advanced and fully autonomous driving programs. Chips power the semi-automated driving features used in cars today, and Intel seeks to ensure the technology remains integral in future self-driving models.
Intel’s acquisition will likely accelerate the pace at which car manufacturers and their parts suppliers develop products. Intel also believes the acquisition will allow it to capture fast-growing market opportunities in this sector of the auto-supply business, estimated to reach upwards of $70 billion by 2030.
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