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Benzinga
Benzinga
Business
Anusuya Lahiri

Intel's Autonomous Car Driving Unit Confidentially Files For US IPO

Intel Corporation Mobileye INTC NVDA Nvidia Corp Patrick Gelsinger QCOM Qualcomm Inc United States
  • Intel Corp's (NASDAQ:INTC) self-driving car unit, Mobileye, has confidentially filed paperwork for a U.S. IPO, Reuters reports.
  • The IPO could value the Israeli unit at over $50 billion.
  • Intel acquired Mobileye for $15.3 billion in 2017 to fire up rivalry with Nvidia Corp (NASDAQ:NVDA) and Qualcomm Inc (NASDAQ:QCOM) in developing driverless systems for automakers.
  • Intel CEO Pat Gelsinger has been under pressure from activist investors to consider spinning off its chip manufacturing operations. 
  • Price Action: INTC shares traded lower by 0.51% at $47.83 on the last check Monday.
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