The stock of Intel Corporation (NASDAQ:INTC) closed at $36.59 gaining 0.49% in yesterday’s trading session. On Wednesday, the provider revealed that it had plans underway to build a fleet of 100 cars to test self-driving technology. It is doing all within its means to leapfrog fierce competitors such as NVIDIA Corporation (NASDAQ:NVDA) and QUALCOMM, Inc (NASDAQ:QCOM).
These cars are expected to be highly automated “level 4” vehicles and the initial tests will be carried in the U.S, Europe and Israel. Intel affirms that the project won’t in anyway be replacing Intel’s new autonomous driving lab. The most recent version of the lab is said to be coming up with the self-driving car systems for a number of companies including Ericsson, BMW and Delphi.
The fleet will be highlighting Intel’s $15 billion acquisition of Mobileye which reportedly closed in the course of this particular week. Israel-based Mobileye is behind the top-end technology that is responsible for the manufacture of a wide array of cars. This provider purchased about 84 percent of Mobileye’s shares and is also looking forward to see cars bearing the Intel-Mobileye technology on the various roads by 2018.
Qualcomm is believed to have gained much of its popularity on the advent of mobile phones. On the other hand, Nvidia has over the years been riding in the glory of being one of the most trusted manufacturers of a wide range of gaming devices. The two are said to have channeled much of their resources into the self-driving vehicles.
During the last fall, Qualcomm went ahead to make an announcement stating that is was intending to purchase NXP Semiconductors in an $47 billion deal.
Jensen Huang , an Nvidia CEO provided an ambitious self-driving car demonstration during the early periods of this particular year. This of course took place at the technology tradeshow CES. The chip provider which many at times corners this particular market is expected to gain immensely.
Chips happen to be critical aspects in a wide array of vehicles and this is what has powered the ever rising suite of electronic devices in different cars.