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

CNBC Pro
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 as it embarks on a capital-intensive process to become a foundry for other chip makers.

Founded in 1999, Mobileye has partnered with Audi, BMW, Volkswagen, GM and Ford to use the company’s “EyeQ” cameras, chips and software to deliver advanced driving capabilities such as driver assistance and lane keeping. ​​Developing rollover and safety features. Mobileye CEO Amnon Shashua said in a filing that 50 companies are currently using the company’s technology across his 800 vehicle models.

According to the prospectus, Mobileye plans to list Class A common stock, but does not specify the number of shares or price range for the proposed offering. According to the prospectus, Intel will retain ownership of Class B shares with 10 times the voting power of his Class A shares and will be able to control the company’s board of directors and other decisions.

Intel is looking to test the public market at a time when demand for future growth technologies like self-driving cars has slowed significantly in the face of rising inflation and macroeconomic concerns.

intel Stocks were up less than 1% in long-term trading.

https://ift.tt/5rqkn39 Intel-Owned Mobileye Submits S-1 for IPO

The post Intel-Owned Mobileye Submits S-1 for IPO appeared first on Autobala.com.


Auto Updates

Comments

Post a Comment

Popular posts from this blog

Sonny Barger’s famous Hells Angels and best-selling author dies at age 83 – Insane Throttle Biker News

Image
Subscribe to the YouTube channel Insane Throttle to get a variety of biker-focused shows and news. Oakland — Sonny, a well-known founding member of Hells Angels, who ran the country on motorcycles, wrote best-selling books, fought the law, won several times, and advocated opposition to smoking after being diagnosed with throat cancer. Barger died at the age of 83. The announcement of Burger’s death was made on his official Facebook page, along with a post containing a farewell message written by Burger. “Reading this message tells me I’m gone. I asked him to post this note shortly after he died,” the post said. “I have had a long and good life full of adventure, and I have the privilege of being part of a great club.” According to the post, Burger died of cancer and was surrounded by his wife Zorana and other loved ones. Born in Modesto, Ralph Hubert Burger moved to Auckland as a kid, joined the US Army as a teenager, and was drawn to motorcycle clubs from an early age. Berg
Read more

The arrest of a motorcycle gangster leads to a business search – insane throttle biker news

Image
If you haven’t subscribed to our YouTube channel you’re missing https://www.youtube.com/c/insanethrottlebikernews An agent at the Isle of Wight County Sheriff’s Office searched for Portsmouth’s business on February 18. The investigation they say stems from the arrest of Ronald Matthews, a member of a suspected outlaw motorcycle gang, last year. The agent arrested Matthews, 35, at his home in Carsville in December and charged him with seven felony and one misdemeanor resulting from a search for two vehicles reportedly stolen. According to an investigation warrant and accompanying affidavit filed with the Portsmouth Circuit Court on February 18, Matthews allegedly possessed a 2019 Ford F350 truck with a counterfeit vehicle identification number on December 7. .. Virginia under the fake Alabama title. The sheriff’s office claims that Matthews is a top member of the Wheels of Soul outlaw motorcycle gang. According to the US Department of Justice website, outlaw motorcycle gangs ar
Read more

Sensata takes a smart approach to sensor production | 2021-12-17

This website requires certain cookies to function and uses other cookies to provide the best experience. When you visit this website, certain cookies are already set and can be deleted and blocked. By closing this message or continuing to use our site, you consent to our use of cookies.Please see the updated one See our privacy and cookie policy for more information. This website uses cookies By closing this message or continuing to use our site, you agree to our cookie policy. learn more This website requires certain cookies to function and uses other cookies to provide the best experience. When you visit this website, certain cookies are already set and can be deleted and blocked. By closing this message or continuing to use our site, you consent to our use of cookies.Please see the updated one See our privacy and cookie policy for more information. https://ift.tt/3GYuxHy Sensata takes a smart approach to sensor production | 2021-1
Read more