Intel's wants to compete in the emerging space of autonomous vehicles and their latest move to acquire computer vision systems company Mobileye for $15.3 billion is their biggest step to date.
But the world's largest chipmaker has spent the past 18 months investing in and acquiring a wide array of lesser-known companies as well as reorganizing its own business, all in an effort to ensure it doesn't miss out on the next money-making opportunity which is autonomous driving.
Intel CEO Brian Krzanich says autonomous driving is estimated to be a $70 billion vehicle systems and data services (total addressable market) opportunity by 2030.
The acquisition amounting to $15.3 billion was announced on Monday, Intel made a play to corner the market on how much of that technology is developed.
The chipmaker’s acquisition of Mobileye, an Israeli company that makes sensors and cameras for driverless vehicles, is one of the largest in the fast-growing sector and sets the stage for increasing competition between Silicon Valley companies as well as traditional automakers over who will dominate the world of autonomous cars.
Google and Uber have already invested billions of dollars in their own technology, signing partnerships with automakers Chrysler and Volvo and sending test vehicles onto the road in a bid to cement their place in the industry.
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