Intel invests $250 million in autonomous driving

Over the next two years, Intel will invest 250 million dollars, converted 233 million euros, in technology for autonomous cars. The money must make fully self-driving cars a reality. The processor maker has not yet disclosed concrete plans for the money.

According to Intel CEO Brian Krzanich, data is ‘the new oil’ in autonomous driving. He states that all the cameras, radars and sensors of an autonomous car generate about 4TB of data per day. Intel focuses, among other things, on processing and interpreting that data with its knowledge of processors.

Intel argues that the auto industry is on the cusp of a major transformation. According to the processor manufacturer, if autonomous driving becomes commonplace, an enormous amount of computing power will be needed to process all the data.

In May, Intel acquired Itseez, a computer vision algorithm company. Intel wants to apply this technology to autonomous driving. In addition, Intel, together with BMW and MobileEye, is part of a group that is working on an open platform for autonomous cars, which should be ready in 2021.

Intel already works with many car manufacturers. In its own words, the processor manufacturer has won a billion dollars in design wins from car brands in the past twelve months. Intel collaborates with BMW, Daimler, Hyundai, Jaguar, Kia, Lexus, Mini Cooper, Rolls Royce, Toyota and Tesla, among others.