Amnon Shashua, co-founder and chief technology officer of Mobileye, speaks at a conference last year. Photo by Bloomberg
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Semiconductors Autonomous Vehicles

Layoffs Hit an Intel Autonomous Vehicle Team, but Investments Continue

By
Aaron Tilley
 |  April 24, 2019 5:24 PM PDT
Photo: Amnon Shashua, co-founder and chief technology officer of Mobileye, speaks at a conference last year. Photo by Bloomberg

Intel has laid off several dozen employees in a Silicon Valley research lab focused on autonomous vehicles as it seeks to reduce overlapping efforts inside the company, The Information has learned.

Despite the layoffs, which were confirmed by Intel, the company isn’t backing away from its work on autonomous vehicles. It has begun centralizing more of its activities in the field in Israel, where Mobileye, an autonomous vehicle company that it acquired in 2017 for $15.3 billion, is based. In a sign of its continued commitment, The Information has learned that Intel’s Mobileye unit late last year acquired Eonite Perception, a Palo Alto-based startup specialized in software for 3D mapping and tracking using lidar, a type of sensor some autonomous vehicles use to detect their surroundings.

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SPAC mania may be nearing its peak. Everyone from Peter Thiel to Paul Ryan is backing special purpose acquisition companies, firms that are taken public as empty shells, destined to raise money for the purchase of a business at some point in the future. And why wouldn’t they? For the SPAC managers, it’s a great way to get rich. 

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