Mobileye Starts Strong

Benzinga 2022-10-26

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Intel’s ($INTC@US) self-driving car unit, Mobileye Global priced its initial public offering at $21 a share, which it begins trading on Wednesday on the Nasdaq stock exchange. Mobileye raised $861 million by selling 41 million shares, valuing the company at roughly $17 billion. Mobileye faces competition from Alphabet’s Waymo and Amazon’s Zoox units. Intel CEO Pat Gelsinger said that listing Mobileye would give the self-driving car unit a higher profile and attract more business.

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