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.
News about Intel
The SEC said the purchases resulted in about $5 million of profit.
Cybersecurity remains one of the most vibrant sectors.
Videos about Intel
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.