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…
Intel’s Mobileye to Launch Self-Driving Shuttles in US in 2024
San Francisco—Intel Corp’s Mobileye unit plans to build and deploy self-driving electric shuttles with its partners in the United States in 2024, in a bid to scale up its automated driving system beyond taxis and delivery vehicles, executives told Reuters. Mobileye, Benteler EV Systems and Beep will launch the on-demand driverless shuttles, which will feature…
Intel Shares Shoot up on Plan to Take Mobileye Public
Intel Corporation shares traded 9 percent higher at $55.66 in the pre-market session on Tuesday after the company announced it is looking to take its driver assistance and autonomous driving solutions subsidiary Mobileye public some time during the coming year. Mobileye released a statement stating that the company, with the full support of Intel’s board,…
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