Intel-Owned Mobileye Submits S-1 for IPO
Mobileye CEO Amnon Shashua poses with Mobileye’s self-driving car at the Nasdaq Market site in New York City, July 20, 2021. Gina Moon | Reuters Intel-owned Mobileye, which makes chips, maps and software for self-driving cars, has filed for an IPO. The prospectus filed with the SEC on Friday . Mobileye fills show strong revenue growth for Israel-based subsidiary, from $879 million in 2019 sales to $967 million in 2020 and $1.39 billion last year . Losses narrowed from $328 million in 2019 to $75 million last year. Related investment news Bank of America downgrades Apple rating, says weak consumers will end stock’s outperformance Mobileye’s move to list on the Nasdaq is part of Intel’s broader strategy to turn around its core business. Intel had previously announced plans to take Mobileye public this year, with him acquiring the company for $15.3 billion in 2017. Intel has previously said it will use funds from its Mobileye listing to build more chip factories ...