Intel's $15B Auto Tech Bet Could Spur More Sector Activity
By Fola Akinnibi (March 23, 2017, 10:16 AM EDT) -- Intel Corp. made a huge bet on the autonomous driving industry with its $15.3 billion purchase of an automotive technology company last week, marking the chipmaker's largest deal ever and potentially sparking more movement in an industry that experts see as an area ripe for significant future growth.
The company's March 13 cash purchase of Mobileye NV, an Israeli company that develops computer vision and machine learning, data analysis and mapping technologies for both advanced driver assistance systems and autonomous driving, shows that Intel is serious about autonomous cars being the future of the industry.
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