Intel buys Moovit transit app for $900 mn to develop self-driving robotaxis

Moovit will remain independent while its technology and the data it collects from more than 800 million users in 102 countries will be integrated into Intel's autonomous car unit Mobileye.

Chipmaker Intel Corp has bought Israeli public transit app maker Moovit for about $900 million to help it develop self-driving "robotaxis" that could take to the streets in early 2022, the company said on Monday

Moovit will remain independent while its technology and the data it collects from more than 800 million users in 102 countries will be integrated into Intel's Israel-based autonomous car unit Mobileye.

The price paid was nearly twice the $500 million valuation when Moovit last raised money in 2018. Intel owned about 7% of Moovit through a previous equity investment and paid about $840 million in cash to assume full ownership.

The deal talks started with Moovit seeking to do a capital raise before the novel coronavirus outbreak globally, according to a source familiar with the negotiations. Moovit had enough cash to sustain itself for about a year, and when the economic impact of the pandemic became evident, it decided to explore an outright sale to Intel, the source added. The deal was negotiated in 40 days through virtual meetings, according to the source.

"Moovit is an acquisition that fills some very critical gaps that we have going forward," Mobileye CEO Amnon Shashua told Reuters.

The initial goal, he said, was to have a small fleet of driverless taxis in countries like Israel, France and South Korea.

Moovit is popular for helping commuters or tourists find the best way to a destination by showing them bus and train routes, bike paths and car-pooling options.

Are Amazon, Microsoft putting the world at risk of killer robots?

The use of AI to allow weapon systems to autonomously select and attack targets has sparked ethical debates in recent years.

Amazon, Microsoft and Intel are among leading tech companies that could spearhead a global AI arms race, according to a report that surveyed major players from the sector about their stance on lethal autonomous weapons.

Dutch NGO Pax ranked 50 companies by three criteria: whether they were developing technology that could be relevant to killer robots, whether they were working on related military projects, and if they had committed to abstaining from contributing in the future.

The use of AI to allow weapon systems to autonomously select and attack targets has sparked ethical debates in recent years, with critics warning they would jeopardize international security and herald a third revolution in warfare after gunpowder and the atomic bomb.

"Why are companies like Microsoft and Amazon not denying that they're currently developing these highly controversial weapons, which could decide to kill people without direct human involvement?" said Frank Slijper, lead author of the report published Monday.

Google, which last year published guiding principles eschewing AI for use in weapons systems, was among seven companies found to be engaging in "best practice" in the analysis that spanned 12 countries, as was Japan's Softbank, best known for its humanoid Pepper robot.

Twenty-two companies were of "medium concern," while 21 fell into a "high concern" category, notably Amazon and Microsoft who are both bidding for a $10 billion Pentagon contract to provide the cloud infrastructure for the US military.

"Autonomous weapons will inevitably become scalable weapons of mass destruction, because if the human is not in the loop, then a single person can launch a million weapons or a hundred million weapons," Stuart Russell, a computer science professor at the University of California, Berkeley told AFP on Wednesday.

"The fact is that autonomous weapons are going to be developed by corporations, and in terms of a campaign to prevent autonomous weapons from becoming widespread, they can play a very big role," he added.

Business Standard

Explained: Why is 5G so important, will Apple release a 5G phone this year?

5G is a new network technology for wireless communications that could be up to 100 times faster than current 4G networks.

Business Standard : Apple Inc and Qualcomm Inc on Tuesday settled an acrimonious two-year legal dispute. Shortly afterward, Intel Corp said it will exit the smartphone modem chip business.

The entire drama played out as the mobile phone industry prepares to shift to a technology called 5G.

Echoing complaints from the U.S. Federal Trade Commission, Apple had alleged that Qualcomm used its patent licensing business to keep a monopoly on modem chips that connect devices like the iPhone to wireless data networks. Qualcomm insisted that Apple was using its valuable technology without proper payment, and Apple later dropped Qualcomm's chips in favor of those from Intel.

In the end, Apple and Qualcomm ceased all litigation, with Apple signing a six-year licensing deal with Qualcomm and also agreeing to buy Qualcomm chips. Hours later, Intel said it was getting out of the modem chip business.

WHAT IS 5G?

5G is a new network technology for wireless communications that could be up to 100 times faster than current 4G networks. The networks are coming on line in the United States, China, South Korea and other places this year, but probably will not be widespread until 2020. Modem chips connect devices like phones to these networks.

WHO ARE THE PLAYERS IN 5G?

Prior to Tuesday, five companies had disclosed 5G modem chips or plans to make them: Qualcomm, Intel, MediaTek Inc, Huawei Technologies Co Ltd and Samsung Electronics Co Ltd. Samsung and Huawei, however, only make chips for their own mobile phones.

WHY DOES APPLE CARE ABOUT 5G?

Some of Apple's rivals in the smartphone market - notably Samsung - plan to release 5G devices this year, which could put pressure on Apple to match the feature. Many carriers that are investing heavily to build 5G networks are also likely to put their marketing efforts behind 5G phones.

WILL APPLE HAVE A 5G PHONE THIS YEAR?

It would require an extraordinary effort from both companies. New modems take months of testing to ensure phones will work on carrier networks. Under traditional time lines, Apple would have needed to start testing a 5G iPhone last year, but its supplier Intel did not have a chip ready.