Intel makes $15bn bet on driverless cars

US chipmaker Intel is taking a big bet on driverless cars with a $15.3bn (£12.5bn) Intel will pay $63.54 a share in cash for the Israeli company, which develops "autonomous driving" systems. Mobileye and Intel are already working together, along with German carmaker BMW, to put 40 test vehicles on the road in the second half of this year. Intel expects the driverless market to be worth as much as $70bn by 2030. Technology companies are racing to launch driverless cars.