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Intel to list shares in self-driving car unit Mobileye

by Mike Robinson

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© Reuters. FILEPHOTO: Mobileye’s logo was seen in Munich at IAA Mobility 2021. It took place on September 7, 2021. REUTERS/Wolfgang Rattay

(Reuters) – Intel Corp (NASDAQ.) intends to publically list shares of its self-driving vehicle unit Mobileye, (F:), according to Wall Street Journal. This could put the unit’s value at over $50 billion, according people who are familiar with the matter.

According to the report, however, Intel cannot guarantee that they will offer an offering.

Intel refused to comment when Reuters contacted them.

Intel bought Israeli autonomous vehicle technology company Mobileye from Israel for $15.3 billion. This was the biggest employer in Israel’s tech sector with almost 14,000 employees.

U.S. chipmaker was placed in direct competition against Nvidia and Qualcomm to create driverless systems for global automakers.

Mobileye was founded in 1999 and has remained a pioneer among self-driving cars. It uses a camera-based technology that allows for adaptive cruise control, lane change assistance, and other features.

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