We reported on BMW's interest in Mobileye last month, but now Intel are making a clear statement to the market as to their confidence in autonomous vehicles with the purchase of Mobileye. I really liked Intel's comment that cars are becoming "data centres on wheels". In the race for market share, will this £12.5bn gamble pay off?
US chipmaker Intel is taking a big bet on driverless cars with a $15.3bn (£12.5bn) takeover of specialist Mobileye. Intel will pay $63.54 a share in cash for the Israeli company, which develops "autonomous driving" systems. Mobileye and Intel are already working together, along with German carmaker BMW, to put 40 test vehicles on the road in the second half of this year. Intel expects the driverless market to be worth as much as $70bn by 2030. Jerusalem-based Mobileye has contracts with 27 car makers. It also controls about two thirds of the market for software that runs automatic emergency braking and semi-autonomous cruise control systems already fitted to cars and trucks.