Mar 14, 2017 06:08 AM EDT
Intel buys self-driving car company Mobileye in $15.3 billion deal on Monday. The US chipmaker plans to pay $63.54 per share in cash for the Israeli tech firm.
Mobileye is a notable leader in computer vision self-driving cars and reports say that the recent acquisition is the biggest deal entered by the Israeli tech firm. Together with Intel and German carmaker BMW, Mobileye sets on putting 40 vehicles on the road in the second half of this year. Intel expects the self-driving cars to be worth as much as $70 billion by 2030.
"This acquisition is a great step forward for our shareholders, the automotive industry and consumers," Brian Krzanich, Intel CEO, said in a statement. "Intel provides critical foundational technologies for autonomous driving including plotting the car's path and making real-time driving decisions." Krzanich believes that with Mobileye's automotive-grade computer vision, the future of self-driving cars will further accelerate and improve in no time.
Intel projects that by 2020 self-driving cars will generate 4,000 GB or four terabytes of data per day that can be mined for information. Betsy Van Hees, an analyst at Loop Capital Markets, notes of Intel's lack of presence in the automotive industry and agrees that the acquisition is a good opportunity for Intel to get into a market that has significant growth opportunities.
Timothy Carone of Notre Dame University agrees on the same analysis and says that big companies are finding ways to position themselves for change and enter the personal computer revolution. Shares of Intel fell 2.2 percent to $35.10 in New York thus the deal only makes sense. Mobileye and Intel's self-driving cars will be based in Israel and led by Amnon Shashua, who is the tech firm's co-founder, chairman and chief technology officer.
Jerusalem-based Mobileye was founded in 1999 and currently has 27 existing contracts with car makers. The company provides vision-based systems to improve road safety and reduce collisions. On the other hand, Intel is moving into self-driving cars as part of its strategy to build up its position in emerging areas of computer technology.
People who travel for business two weeks or more a month report more symptoms of anxiety and depression and are more likely to smoke, be sedentary and report trouble sleeping than those who travel one to six nights a month, according to a latest study conducted by researchers at Columbia University's Mailman School of Public Health and City University of New York.
President Trump said Friday he is declaring a national emergency on the southern border, tapping into executive powers in a bid to divert billions toward construction of a wall even as he plans to sign a funding package that includes just $1.4 billion for border security.
Amazon's decision to abandon plans to build a new campus in Long Island City, Queens, has drawn cheers from several politicians, community organizers and other locals opposed to the expansion.
One of the hottest topics at the World Economic Forum in Davos, Switzerland has been Alexandria Ocasio-Cortez's proposed 70% marginal tax rate on all income above $10 million.
In recent decades, Europe has experienced a downward trend in the annual number of deaths. Not only was this trend not arrested by the economic recession that started in 2008, in fact, the rate of decline increased during the recession years.
Discovering that your new designer handbag or gold watch is a fake is costly and annoying, and counterfeit medical devices or drugs could have even more serious consequences. But seemingly as soon as manufacturers develop a new method to ensure product authenticity, counterfeiters find a way to outsmart it. Now, researchers have created an "unclonable" tag that can never be replicated, even by the manufacturer. They report their results in ACS Applied Materials & Interfaces.
The traditional model for setting auto insurance premiums has been to base rates on the motorist's driving history, age, gender and even marital status (in some states). Thanks to new technological options, insurance companies, and motorists have started to work together to give the insurance companies access to better data on an individual driver's risk level, and give the same driver a sense of greater control over how much he or she will pay in insurance premiums.
Consumer brands have long used old-fashioned focus groups, interviews and surveys to best gauge consumer wants, desires and needs as part of processes that range from product development, to marketing and sales. As machine learning and artificial intelligence (AI) have emerged, there is an increasing interest in the ability to harness these solutions to save time and money, and to yield more reliable consumer insights.