German electronics and engineering conglomerate Bosch has announced that it will construct a €1.1 billion semiconductor plant. The facility will focus solely on producing and developing components for self-driving cars. The announcement represents the biggest single investment in the fabled history of Bosch.

US smart cities technology and media firm Intersection has formally announced that it has received $150m in a recent funding round which was led by US conglomerate Graham Holdings Company. New investors Arrow-Mark Partners and New-Spring also invested. The strategic plan behind the financing round is to accelerate the deployment of its smart city technology on a global scale.