Intel’s self-driving company Mobileye files for an IPO
Intel’s self-driving technology firm Mobileye has filed for an initial public offering (IPO), according to a filing with the Securities and Exchange Commission (via CNBC). The Israel-based company, which Intel acquired for $15.3 billion in 2017, specializes in making the chips and software that powers autonomous vehicles.
According to Bloomberg, Intel initially expected the IPO to value Mobileye at $50 billion, but later lowered its expectations to around $30 billion. Mobileye’s SEC filing indicates steady revenue growth over the past few years, jumping from $879 million in 2019 to $967 million in 2020, and topping out at $1.4 billion in 2021. The filing doesn’t provide any information on how much a share could cost.
Founded in 1999 by...