Intel’s self-driving company Mobileye files for an IPO

A Mobileye self-driving vehicle. | Image: Mobileye, an Intel company 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… Continue reading… from The Verge – All Posts https://ift.tt/3haxQwI via Grabey
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