Intel to shut down automotive division as part of cost-cutting measures

Intel has announced the closure of its small automotive division, as the company refocuses on its core businesses, such as client computing and data centers. The decision will also lead to the layoff of most employees working within the automotive department. Intel confirmed that it would fulfill its existing commitments to customers but would no longer pursue the automotive market. Despite the division’s closure, the company’s involvement in automotive technology remains significant through its stake in Mobileye, an Israeli firm specializing in self-driving car technology. Intel’s chips have been used in 50 million vehicles, offering support for electric vehicles, performance optimization, and driver assistance systems. However, the company has stated that the closure will not affect Mobileye’s operations. The shutdown reflects Intel’s shift back to its primary focus areas, amidst broader efforts to streamline operations and cut costs.