Intel to pay $300M for a MacBook Air Killer

But will it be enough to persuade consumers?

Intel (NASDAQ: INTC) is willing to spend as much as $300 million to, as Bloomberg puts it, “back the development of technology to speed up the introduction of notebook computers it's calling ‘ultrabooks.'”

According to Bloomberg, Intel plans to invest the money in hardware and software companies to create “thinner, lighter laptops that can go all day without a battery charge.”

Just as Apple (NASDAQ: AAPL) has successfully convinced many of its existing customers to switch to the MacBook Air, Intel wants to convert 40% of consumer laptops to the ultrabooks category by the end of 2012. That's an impressive goal, especially with the promises that are tied to these laptops: they'll start up in seconds, measure less than one inch thick, have days of battery life when placed into standby mode, and retail for less than $1,000, undercutting the cheapest MacBook Air by at least $100.

Unfortunately for Intel, the investment will take place over the next three to four years. Something tells me that by the time the chipmaker catches up to the MacBook Air, Apple will have developed something far better – like a touch screen laptop or an iPad that outperforms the latest MacBooks.

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