John Locher / AP

As earlier reported by Axios, Intel is paying $15.3 billion to acquire Israeli computer vision company Mobileye in an effort to boost the chipmaker's position in the autonomous car market.

That makes it the biggest deal of the year, the largest ever for an Israeli company and Intel's second largest deal ever, according to S&P Global Market Intelligence.

Intel is tapping its foreign cash, paying $63.54 per share in cash for the company and said it should be immediately a boost to its per-share earnings; it is expected to close late this year.

Here's Intel CEO Brian Krzanich's letter to employees (PDF), as well as a missive from Mobileye (PDF) in which CEO Ziv Amnon says he and co-founder Amnon Shashua will continue to run the business.

Why it matters: After dominating the computer chip business in the PC era, Intel largely missed the smartphone revolution. In an effort not to miss the next wave, Intel has spent heavily to acquire companies in virtual reality, machine learning and, now, autonomous cars.

Meanwhile: Wouldn't want to be these guys. Vetr cut its rating on Mobileye – from buy to hold – just hours before news of the deal broke.

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Elliott Abrams to replace Brian Hook as Trump's Iran envoy

Brian Hook. Photo: Tayfun Coskun/Anadolu Agency via Getty Image

President Trump's Iran envoy, Brian Hook, is stepping down and will be replaced by Elliott Abrams, a noted Iran hawk who currently serves as Trump's envoy for Venezuela, Secretary of State Mike Pompeo confirmed Thursday. Abrams will continue to serve in his role as Venezuela envoy.

Why it matters: Hook had been tasked with executing Trump's "maximum pressure" policy toward Iran, working closely with Pompeo. That strategy has deepened tensions and thus far failed to force Iran back to the negotiating table, as Trump had hoped.

Ohio Gov. Mike DeWine tests positive for coronavirus ahead of Trump visit

Photo: Justin Merriman/Getty Images

Ohio Gov. Mike DeWine (R) has tested positive for COVID-19 and plans to quarantine at his home for the next 14 days, his office announced Thursday. He currently has no symptoms.

Why it matters: The 73-year-old DeWine was set to meet President Trump Thursday on the tarmac at an airport in Cleveland and was tested as part of standard protocol. He is the second governor known to have contracted the coronavirus, after Oklahoma Gov. Kevin Stitt (R).

Updated 40 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 12:30 p.m. ET: 18,860,908 — Total deaths: 708,676— Total recoveries — 11,394,821Map.
  2. U.S.: Total confirmed cases as of 12:30 p.m. ET: 4,834,546 — Total deaths: 158,445 — Total recoveries: 1,577,851 — Total tests: 58,920,975Map.
  3. Politics: Pelosi rips GOP: "Perhaps you mistook them for somebody who gives a damn" — Ohio Gov. Mike DeWine tests positive.
  4. Public health: Fauci says task force will examine aerosolized spread.
  5. Business: July's jobs report could be an inflection point for the recovery — Teladoc and Livongo merge into virtual care giant.
  6. Sports: Where college football's biggest conferences stand on playing.