Intel to take its own Mobileye public

Intel to take its own Mobileye public

In mid- 2022, Intel plans to take its own driving unit Mobileye public via an initial public offering of newly issued stock.

Mobileye, founded in Jerusalem in 1999 by Ziv Aviram and Amnon Shashua, went public first in 2014 before being acquired by Intel for $15.3 billion in 2017. According to Pat Gelsinger, Mobileye has achieved record revenue year-over-year, with 2021 gains expected to be more than 40% higher than 2020.

In 2021, Mobileye shipped 100 million EyeQ system-on-chips, scaled its autonomous vehicle test programs across multiple cities around the world, including Europe and Asia, unveiled its production robotaxi, and secured 41 new advanced driver assistance system wins across more than 30 automakers worldwide.

Mobileye secured several deals for Moye a service MaaS programs starting in 2023 and consumer and business vehicle production designs for Mobileye's self-driving system starting in 2024.

Gelsinger said that an IPO provides the best opportunity to build on Mobileye's track record for innovation and unlock value for shareholders.

Intel will support the company with technical resources to deliver industry-leading sensor technologies, as Mobileye's majority shareholder.

Mobileye's strength in the automotive sector will enable the tech giant to address the industry's fast-growing silicon bill of materials opportunity. By 2030, the share of semiconductors is expected to be 20% of a premium vehicle's total bill of materials.

Intel's recent acquisition of Moovit and the company's teams on lidar and radar development and other Mobileye projects will be aligned under the new company.