Intel’s CEO, Robert Swan, speaks during a round-table discussion with the members of the media in Tel Aviv, Israel, June 16, 2019. REUTERS/Amir Cohen
TEL AVIV (Reuters) – Intel Corp is a project that started on a Sunday, to help start-ups in Israel, the development of technology within the artificial intelligence (AI) and autonomous systems, and said that it was going to be the regulation in other countries.
The 20-week program, called the Kindle, offers business and technical support to up to 15 start-ups, the California-based company said, adding it would not take equity stakes in start-ups, but for now, it would be able to do that, so you in the end.
Intel is one of the largest employers in the community, in Israel, where many of the new technologies that are being developed, and this year, that is, the investment of 40 billion shekels ($11 billion) to expand its manufacturing operations there.
“Israel has deep skills in the use of AI, autonomous systems, and the underlying technology, it is crucial that these forms, which makes it a natural choice for the launch of our Ignite program,” said CEO Bob Swan.
Intel paid $15.3 billion to buy the Israeli-autonomous-vehicle-technology company, Mobileye, two years ago.
“I have absolutely no regrets with the purchase by Mobileye,” Swan told reporters in Tel Aviv, adding that since the purchase of Mobileye had doubled its penetration in the high growth industry of autonomous vehicles.
In the last month, the U.s. Commerce Department added, Huawei Technologies, Co. her so-called “Entity List”, a move which is against the telecommunications giant from buying parts and components from US companies without US government approval.
China is a key market for Intel, and Huawei, a major customer.
“What we want to do is to be very focused on serving clients all over the world, but at the same time, adhere to the rules and regulations. We are not shipping anything that is listed on the entity list,” Swan said.
Reporting by Tova Cohen, Editing by Ari Rabinovitch and Mark Potter