It’s reported that Intel has filed for an initial public offering for its vehicle safety technology subsidiary Mobileye.
Reuters says the corporation has “confidentially filed for an initial public offering in the United States on Monday, setting the stage for what is expected to be one of the biggest stock market flotations of the year”.
The report says investors have made “big bets” on new technologies in the business of global transport over the past few years, and Intel is aiming to take advantage of the demand for autonomous vehicles by listing Mobileye’s shares.
Israeli company Mobileye was bought for $15.3 billion (£11.6 billion) in 2017. It uses a camera-based system with adaptive cruise control and lane change assistance in driverless cars.
(Picture – Mobileye website)