Intel Buys Moovit Transit App For $900 Million To Help Develop Robotaxis

Chipmaker Intel 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. From a report: 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 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.

What's the plan here?

[AmiMoJo]

Moovit has an app that lets you plan getting around on public transport. So how is this going to help a robotaxi service?

Are they looking for routes to take over with robotaxis? Might make sense, if they limit to level 4 autonomy (self driving but limited to certain areas) and have an app they can sell rides through it will be faster than trying to build a full level 5 system.

Re:

[bluegutang]

Moovit allows you (or maybe this is default?) to transmit your location while traveling, so that it can predict for other users if the bus will come on time.

This means that Moovit collects a lot of data on people's locations and transport patterns. Admittedly this is mostly transit riders on defined routes, and not drivers, but I'm sure there is an overlap in what can be data-mined from it.

Thus Moovit is a potential competitor to Waze in the "self-driving car choosing a route" field. This helps Intel (Mobil

Re:

[PingSpike]

Based on Intel's past acquisition history I believe the plan is to buy the company, do nothing with it for a little while and then sell it for a loss.

Re:

[account_deleted]

Comment removed based on user account deletion

Re:

[lobotomy]

I was trying to figure out why anyone wanted to create the robot axis. The last time an axis was around, it didn't turn out too well.

What a waste of money

[ReneR]

Will that be the end of Intel?

wow

[indy_Muad'Dib]

$900 million is a lot of money to build a robot axis.

is AMD going to counter by building a Robot allied force?

SELL SELL SELL

[hacker_news_rocks]

Intel has no idea what the hell they're doing anymore.

Time to unload your Intel stock. I'd short it, but the retail investors haven't gotten the memo that Intel is incompetent.

In the meantime, buy AMD and NVDA instead.

2022 is the new 2020

[louzer]

https://failed-predictions.sur... [surge.sh]

I wonder when we can

[QuantumLeaper]

call a Johnny Cab? Or even get my Ass to Mars?
https://youtu.be/eWgrvNHjKkY
https://youtu.be/dAX2H0hpOc4
Come on Elon can you make it happen,,,

Re:

[flatulus]

I was beginning to think I would have to create my own thread to mention Johnny Cab. Looks like I might live long enough to take a ride in one.

Security problems with robotaxis are next

[Targon]

So, Intel based robotaxi service gets hacked and sends passengers to a random destination in bad neighborhoods is what I expect to see if/when these services show up.

Can they ace the The Knowledge?

[Joe_Dragon]

Can they ace the The Knowledge?