With big capital commitments for new foundries coming down the pike, Intel (INTC) is likely looking to free up resources by spinning off Mobileye. The chip giant said Tuesday it would float Mobileye onto public markets. Industry experts peg the valuation on Mobileye north of $50 billion given its lead in autonomous driving technology and key deals inked with the likes of Ford and Geely. Mobileye also has attractive financials (the company has hauled in north of $442 million in operating… Source link
Read More »Intel to Take Its Mobileye Unit Public in 2022 IPO; Shares Jump
(Bloomberg) — Intel Corp. plans to list shares of its Mobileye self-driving car business by the middle of next year, letting the chipmaker capitalize on its investment in a burgeoning industry. Most Read from Bloomberg Intel will remain the majority owner after the transaction, which involves an initial public offering of newly issued Mobileye stock, the company said in a statement Monday. Mobileye’s executive team, led by Amnon Shashua, also will stay on board. News of the move, first… Source link
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