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Dec. 6, 2021, 9:39 p.m. EST

Intel to launch IPO of its Mobileye self-driving-car unit in 2022

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Cara Lombardo, Corrie Driebusch

Intel Corp. /zigman2/quotes/203649727/composite INTC +1.38%  is planning to publicly list shares in its Mobileye self-driving-car unit, the latest move by Chief Executive Pat Gelsinger to revive the semiconductor giant’s fortunes.

Intel said it would take the unit public in the U.S. in mid-2022 through an initial public offering of new Mobileye stock. The move, earlier reported by The Wall Street Journal, could value Mobileye at north of $50 billion, according to people familiar with the matter.

There are no guarantees Intel will ultimately follow through with an offering.

Mobileye, an Israeli company Intel  acquired in 2018 for around $15 billion , specializes in chip-based camera systems that power automated driving features in cars.

An expanded version of this report appears on WSJ.com.

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/zigman2/quotes/203649727/composite
US : U.S.: Nasdaq
$ 55.70
+0.76 +1.38%
Volume: 30.15M
Jan. 14, 2022 4:00p
P/E Ratio
10.81
Dividend Yield
2.50%
Market Cap
$226.53 billion
Rev. per Employee
$709,530
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