Intel to Exit Car Chip Business, Announces Layoffs

Intel is exiting the automotive chip market, which will lead to layoffs across its automotive group. This strategic shift is a part of the company’s plan to streamline operations and concentrate on its core businesses such as client computing and data centers. The decision, revealed internally, marks a complete wind-down of the automotive vertical. Intel has stated it will continue to fulfill existing automotive commitments before exiting. The company has not released the number of jobs affected. Despite this change, Intel maintains its majority stake in Mobileye, its Israel-based self-driving technology firm. In addition to the automotive division’s closure, the company is undertaking further restructuring efforts, including outsourcing its marketing operations and potential layoffs within its manufacturing unit, spearheaded by the new CEO.