Intel’s Autonomous Car Driving Unit Confidentially Files for US IPO

By Benzinga
Benzinga
Benzinga
March 8, 2022 Updated: March 8, 2022

Intel Corp.’s self-driving car unit, Mobileye, has confidentially filed paperwork for a U.S. IPO, Reuters reports.

The IPO could value the Israeli unit at over $50 billion.

Intel acquired Mobileye for $15.3 billion in 2017 to fire up rivalry with Nvidia Corp. and Qualcomm Inc. in developing driverless systems for automakers.

Intel CEO Pat Gelsinger has been under pressure from activist investors to consider spinning off its chip manufacturing operations.

By Anusuya Lahiri

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