Mobileye, the self driving tech company Intel owned Purchase2017: $15.3 billion in back For an IPO, you must fileWith the Securities and Exchange Commission. When Intel First announcedMobileye’s plans to go public last year meant that the autonomous driving company would be worth more than $50 billion. According to BloombergIntel projects Mobileye’s value at $30 billion due to high inflation rates and poor market conditions. It’s likely to be one of the largest US offerings for 2022, if it is listed this year.
Intel will retain Mobileye’s majority stake, Chief Executive Pat Gelsinger is not. Previously statedIt would allow it to grow faster if it was made public. He said that the company intends to use some funds raised by the IPO to construct more chip factories. Intel’s bold and ambitious plans for foundry expansion were revealed in 2021 when the company announced that it was launching its new Intel Foundry. 20 billion dollars in investments in two Arizona fabrication plants. Gelsinger claimed that he was still interested in Apple’s business back then. The CEO announced earlier this year that he had allocated $20 billion more to construct two new fabrications Plants in Columbus, Ohio. According to the company, this facility could eventually become “the most important silicon manufacturing location on Earth.”
Mobileye did not specify the price of a share in its filing to the SEC. However, it did state that it will use a portion the proceeds of the IPO to repay its debts. The filing also included details about the firm’s history and how its revenue increased from $879 million in 2019, to $1.4 billion by 2021. This is a 43% increase over last year.
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