Intel and Tesla announced on Monday the creation of a new chipmaker called Millennium Technology that will help the two companies compete against the likes of Tesla and Qualcomm.
“The first Millennia chip will be the first to be based on the new Intel® Xeon Phi™ processor architecture,” Intel said in a statement.
“This chip will have a number of performance improvements over previous generations and will be based around the same processor architecture as the Intel® Pentium® processor.
Intel and Millennio Technologies have worked together for more than 10 years to deliver a world-class processor platform, and we are proud to be able to continue this partnership.”
Intel will sell the chip to other chipmakers that will be competing in the $5 billion chip market.
Millennium will work with a number.
Its chip will come in two different flavors.
The first, which will be released later this year, will be called the Intel Core i5 processor.
The second, which is expected later this decade, will consist of a different architecture based on Intel’s Atom chip.
Intel says it will sell about 200 million chips per year.