Intel creating fund to invest in companies developing car technologies

PanARMENIAN.Net - Intel is creating a new venture fund to invest in companies that develop technologies used in cars and other powered vehicles, Tweak Town reports.

Intel is planning on putting $100 million into the fund over the next four-to-five years, promising research for automotive hardware, software, and services. The investments could be for a range of things, from navigation to in-car entertainment systems.

Intel wants to bust out of the bubble they've created for themselves with a market of processors for laptops and PCs.

Sales of computing products are expected to decline over time as domestic and global markets become saturated. This should be translated to "because people don't need faster upon faster desktop processors as their dual- or quad-core smartphones and tablets are more than powerful enough'.

Intel has established partnerships with automakers BMW, Hyundai, Kia and Toyota. Intel are also reportedly creating an automotive-focused development centre in Germany.