Tech

Intel Has Both Eyes And Brain In Driverless Car Market; Diversifies From Chipmaking With New Mobileye Acquisition

Intel has missed out on the smartphone boom but now it aims to catch up with its 5G technology. The company now forays into a lucrative business despite shelling out an investment seven times more than its expected 2017 revenues. The chipmaking giant appeared to pay close attention to last year's Goldman Sachs prediction projecting a growth in the driver assistance systems and autonomous vehicles from 3 billion in 2015 to 96 million in 2025 and 290 billion in 2035. It is a first for Intel to invest in the said technology although it also invested in a few companies making different components for self-driving systems like sensors and robotics.