Intel enters self-driving car race with Mobileye acquisition

Intel says it is solidifying its aggressive push into the autonomous vehicle race with its $15 billion purchase of Mobileye.

Why it matters: On a call with reporters Tuesday, Intel CEO Brian Krzanich says that combining their resources will give it a major leg up for a market that's as big as $70 billion for hardware, software and services.

Mobileye co-founder Amnon Shashua, who will become Sr. Vice President at Intel, said Intel's new advantage is bringing a completely autonomous vehicle system under one umbrella, as opposed to the piecemeal approach other companies are pursuing.

"Customers are looking to come to one place that does computer vision, sensor vision, 5G connectivity, data center for collecting data... Only that combination can go from the front of the car, through to the back of the car, and back up to the data center," Shashua said. "You need to think about mapping, artificial intelligence, driving policy, safety, interact with regulators. It's a complex game."

Mobileye also brings close relationships with more than two dozen car manufacturers that will help Intel get its technology directly into vehicles.