Intel to spend $250 million to develop self-driving vehicles

In a speech during the Los Angeles Auto Show recently, Intel CEO Brian Krzanich stated his company will invest $250 million over the next 2 years towards the creation of self-driving automobiles. It’s a substantial amount of cash and an apparent sign that the computer chip maker is serious about playing a big role in the future of vehicles.

However that doesn’t indicate that Intel is about to develop its own fleet of self-driving cars. After all, the procedure of developing a car from scratch is incredibly complex and expensive. Intel seems like it’s more interested in what goes into the technology that powers a self-driving car than constructing the vehicle itself.

In a declaration, Intel states the financial investment will help push the borders on next-generation connection, communication, context awareness, deep learning, security, safety and more. In short words, Intel wishes to be the business that processes the information powering the self-driving automobiles made by automakers like BMW. Previously, the German automaker stated it was collaborating with Intel and Mobileye, the Israeli supplier of driver assistance systems and sensors that provides a large percentage of the vehicle market, to produce totally autonomous cars by 2021.

Intel isn’t the only tech business investing greatly in self-driving cars. Almost every car manufacturer and tech startup is dealing with the innovation as well.