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Intel shuts down automotive chipmaking division
Intel is shutting down its automotive chip division and laying off most of the team as part of a big company shake-up.
Even though their chips power over 50 million cars worldwide, this business brought in only a tiny slice of Intel's revenue.
The move comes as CEO Lip-Bu Tan looks to cut costs and refocus the company.
Intel's auto division cuts across the board
It's not just the auto division—at least 107 employees at Intel's Santa Clara HQ are also being let go, hinting at broader company-wide cuts.
Mobileye still leads in autonomous driving
Intel bought self-driving tech leader Mobileye for $15 billion back in 2017.
While Intel is leaving the car chip scene, Mobileye continues to lead in autonomous driving—and still has Intel as its majority owner.