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Rolls-Royce share price: Group to collaborate with Intel on autonomous ships

Rolls-Royce Holdings (LON:RR) and Intel will collaborate on designs for intelligent shipping systems, the British engine maker has said. The parties expect the systems to make commercial shipping safer.

Rolls-Royce’s share price has fallen into the red in today’s session, having given up 0.75 percent to 869.20p as of 14:47 BST. The stock is underperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.31 percent higher at 7,017.69 points. The group’s shares have lost about 3.4 percent of their value over the past year, as compared with about a 7.5-percent fall in the Footsie

Rolls-Royce and Intel unveil collaboration

Rolls-Royce announced in a statement today that it will collaborate with Intel on designs for sophisticated intelligent shipping systems, bringing together ship technology from the British engine maker with components and systems engineering from the US tech giant. The engine maker explained that the new systems will have data centre and artificial intelligence capabilities as well as sophisticated edge computing throughout that independently manage navigation, obstacle detection and communications.

“We’re delighted to sign this agreement with Intel,” Kevin Daffey, Rolls-Royce, Director, Engineering & Technology and Ship Intelligence, commented in the statement. “This collaboration can help us to support ship owners in the automation of their navigation and operations, reducing the opportunity for human error and allowing crews to focus on more valuable tasks.”

Analysts on British engine maker

The 16 analysts offering 12-month price targets for Rolls-Royce for the Financial Times have a median target of 982.50p on the shares, with a high estimate of 1,266.00p and a low estimate of 675.00p. As of October 13, the consensus forecast amongst 20 polled investment analysts covering the blue-chip engine maker advises investors to hold their position in the company. 

As of 14:58 BST, Monday, 15 October, Rolls-Royce Holding PLC share price is 867.40p.

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