Tesla unveils the 'best chip in the world' for self-driving cars at its autonomy day event

Tesla's "autonomy day" kicked off on Monday morning at the electric-vehicle maker's headquarters in Palo Alto, California, where executives including CEO Elon Musk were expected to give investors more details about the company's self-driving technology, known as Autopilot. "Tesla is making significant progress in the development of its autonomous driving software and hardware, including our FSD computer, which is currently in production and which will enable full-self driving via future over-the-air software updates," the company said when it announced the event. Attendees were given red, Tesla-branded badges with sequential numbers, assumably for test rides of the full self-driving functionality. Musk took the stage just before noon alongside Pete Bannon, the vice president of Autopilot engineering, as more than 40,000 people watched remotely via the company's live YouTube stream. Bannon explained how Tesla designed a new chip for its Autopilot software, noting that the company was able to leverage expertise from multiple teams across the business.