The chipmaker missed the boat on mobile and is now trying to solidify its position as a supplier of the “new new” wave of computing: the so-called Internet of Things. That means it is making connected chips for anything from self-driving cars to jet engines. And it hasn’t entirely given up on mobile either. It was recently reported that Intel will supply up to 50% of the modems for Apple’s upcoming iPhone 7. Last November, the company landed another coup when it poached Murthy Renduchintala from Qualcomm to lead its newly-formed IoT division. But those wins haven’t been enough to stem the losses. Last year’s revenue came in at $55.4 billion, down 1% from the year before, with its PC and software groups seeing the biggest declines.
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New software will satisfy the needs of the Chinese government.
Investors include HSBC, Bank of America, Wells Fargo, and more.
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New CEO Christopher Young talks McAfee's strategy.
The tech giant will join Google, Tesla, Uber and others in the race to build the best self-driving car.
The Israeli-based self-driving car company saw shares jump 33 percent after the announcement.