Tim Herman/Intel Corporation

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.

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Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 19,128,901 — Total deaths: 715,555— Total recoveries — 11,591,028Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 4,884,406 — Total deaths: 160,111 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: Trump floats executive action even if stimulus deal is reached.
  4. Business: U.S. economy adds 1.8 million jobs in July — Household debt and credit delinquencies dropped in Q2.
  5. Sports: The pandemic's impact on how sports are played.
  6. 1 🎮 thing: Video gaming growth soars.

Trump floats executive action even if stimulus deal is reached

Photo: Samuel Corum/Getty Images

The White House is finalizing a series of executive orders addressing key coronavirus stimulus priorities if negotiations with Congress fall apart, and it's leaving the door open for President Trump to use them even if a deal is reached that doesn't encompass all of his priorities, two administration officials tell Axios.

What we’re hearing: “I wouldn't be surprised that, if something gets left off the table, we’d be like ‘we can take this executive action too and be able to win on it anyway,’” one official said.

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TikTok responds to Trump executive order: "We are shocked"

Photo: Jakub Porzycki/NurPhoto via Getty Images

TikTok said Friday that it was "shocked" by President Trump's executive order that will ban Americans from dealing with ByteDance, its China-based owner, in 45 days.

Why it matters: TikTok argued that Trump's move "risks undermining global businesses' trust in the United States' commitment to the rule of law, which has served as a magnet for investment and spurred decades of American economic growth."