The chipmaker has acquired the technology to become a leading player in the autonomous vehicle market.
(CCM) — Intel has placed a huge bet on the success of driverless cars by laying out over $15 billion to acquire Mobileye, and Israeli company which develops "autonomous driving systems." Intel is best known for its microprocessors that power desktop and laptop computers, but the company has struggled to get a foothold into the mobile device market. But by acquiring Mobileye the company has made a statement that it is determined to be a significant player in the driverless car market as it develops over the next few years. Intel believes that this market will be worth as much as $70 billion by 2030.
According to a BBC report, Intel believes that cars are evolving into data centers on wheels. It expects that driverless cars will generate 4,000 GB of data every day that can be analyzed and mined for information, the BBC adds. Mobileye was founded in 1999 to develop "vision-based systems to improve on-road safety and reduce collisions", long before driverless cars were close to being possible. The company has already collaborated with Intel, along with German car maker BMW, to build 40 driverless cars that will be tested on the road later this year.
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