Mobileye Jumps After Intel Says It Won’t Divest Majority Stake

Intel's decision to retain the majority of its stake in Mobileye is a major strategic shift for the company.

Mobileye shares jumped 5% in early trading on Tuesday after Intel said it wouldn’t divest its majority stake in the self-driving car technology company.

The decision is a major strategic shift for Intel, which had previously planned to sell most of its automotive business, including Mobileye.

Instead, Intel will keep a 50.3% stake in Mobileye and will spin off the rest of the business through an initial public offering.

The IPO is expected to take place in mid-2023 and could raise up to $8 billion for Intel.

Intel’s decision to retain Mobileye is a sign that the company believes in the long-term potential of the self-driving car market. Mobileye is a leader in the development of self-driving technology, and its products are used by many major automakers.

Mobileye's technology is also used in a variety of other applications, including traffic management, delivery logistics, and fleet management.

The self-driving car market is expected to grow rapidly in the coming years, and Intel is well-positioned to benefit from this growth with its stake in Mobileye.

Here are some additional details about the IPO:

• The IPO is expected to raise up to $8 billion.
• The proceeds from the IPO will be used to pay down debt and invest in Intel’s other businesses.
• Intel will retain a 50.3% stake in Mobileye after the IPO.
• The IPO is expected to take place in mid-2023.

The IPO is a major milestone for Mobileye and Intel. It will give Mobileye the resources it needs to continue developing its self-driving technology.

It will also give Intel a significant amount of capital to invest in its other businesses. The IPO is a positive development for both companies and for the self-driving car market as a whole.

Here are some additional thoughts on the IPO:

The IPO is a sign that Intel is committed to the self-driving car market. The proceeds from the IPO will give Mobileye the resources it needs to continue developing its self-driving technology. The IPO is a positive development for both Mobileye and Intel.