Intel spends $1 billion_Participating in multiple artificial intelligence companies
September 19 news, according to TechCrunch, chip giant Intel is targeting the field of artificial intelligence (AI). The chipmaker announced today that it has injected more than $1 billion into AI startups through its investment fund, Intel Capital. This includes participation in the financing of a number of AI companies, such as Mighty AI, Data Robot, Lumiata and AEye.
Intel's investment focus ranges from unmanned to medical technology to climate change research. Strategically, Intel is considering where to invest these funds, as it will continue to build its own AI technology and focus on areas such as automated flight, driverless, automated equipment inspection, and AI computing.
In addition to investing through Intel Capital, Intel has invested heavily in developing AI, making it a key component of its core business. This includes a number of acquisitions completed earlier this year, including the acquisition of Nervana in 2016, the acquisition earlier this year and the Israeli auto technology company MobileEye. The total cost of these acquisitions is about $16 billion, and MobileEye is the largest of them.
Intel CEO Brian Krzanich will attend the TechCrunch Disrupt San Francisco conference today, which may involve the company's growing focus on AI and its implications for its investment business and corporate strategy.
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