Updated 11:29 AM EDT, Tue, Jun 16, 2020

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Intel Plans to Invest $250 Million Towards Development of Self-Driving Cars


(Photo : Getty Images) A general view of the Intel booth at the International CES at the Las Vegas Convention Center in Las Vegas, Nevada.

During his keynote speech at the LA Auto Show on Tuesday, Intel chief executive officer Brian Krzanich said that the chip manufacturer will invest $250 million within the next two years towards the development of autonomous cars. It is a major investment for Intel, and it clearly shows how committed the company is towards the future of self-driving cars.

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Following Krzanich's statement, many in the tech world wonder what Intel's plan will be. Some say that the company might create its own fleet of self-driving cars, while some believe that Intel will focus into chip-making and development of microprocessors with emphasis towards its application in the autonomous car platform.

Regarding its plans for the autonomous car platform, Intel said in a statement, "These investments will drive the development of technologies that push the boundaries on next-generation connectivity, communication, context awareness, deep learning, security, safety and more."

According to The Verge, Intel is gearing up to delve deeper into the software side of the autonomous car platform instead of providing car hardware for car manufacturers to use in their own models.

During his keynote at the LA Auto Show, Krzanich said that the tech industry should prepare for an inundation of data once autonomous cars start hitting the road. Krzanich said that a single autonomous driving car can download and upload more than 4,000GB of data each use as it relies on self-driving technologies like camera, sensors, GPS, and lidar.

It is important to note that Intel is not known for its software business. Moreover, the company is still catching up to new platforms like machine learning, artificial intelligence, and Internet of Things.

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